{"data":{"id":"us-ky/krs-355.4a-501","jurisdiction":"us-ky","citation":"KRS 355.4A-501","heading":"Variation by agreement and effect of funds-transfer system rule.","body":"(1) Except as otherwise provided in this article, the rights and obligations of a party to a\nfunds transfer may be varied by agreement of the affected party.\n(2) \"Funds-transfer system rule\" means a rule of an association of banks:\n(a) Governing transmission o f payment orders by means of a funds -transfer\nsystem of the association or rights and obligations with respect to those\norders; or\n(b) To the extent the rule governs rights and obligations between banks that are\nparties to a funds transfer in which a Feder al Reserve Bank, acting as an\nintermediary bank, sends a payment order to the beneficiary's bank. Except as\notherwise provided in this article, a funds -transfer system rule governing\nrights and obligations between participating banks using the system may b e\neffective even if the rule conflicts with this article and indirectly affects\nanother party to the funds transfer who does not consent to the rule. A funds -\ntransfer system rule may also govern rights and obligations of parties other\nthan participating banks using the system to the extent stated in KRS 355.4A -\n404(3), 355.4A-405(4), and 355.4A-507(3).","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33586","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:45Z","sha256":"1940dffc2aa1af5454d62cc6ed15d75dbbd453a2f7b70b69009b1d79c023bbcc","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.4a-406","next":"us-ky/krs-355.4a-502"},"notice":"GroundRules: Original legal text. Not legal advice."}