{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-4a-205","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-4A-205","heading":"Erroneous payment orders","body":"ERRONEOUS PAYMENT ORDERS\n\n(a) If an accepted payment order was transmitted pursuant to a\n\nsecurity procedure for the detection of error and the payment order\n\n(i) erroneously instructed payment to a beneficiary not intended by\n\nthe sender, (ii) erroneously instructed payment in an amount greater\n\nthan the amount intended by the sender, or (iii) was an erroneously\n\ntransmitted duplicate of a payment order previously sent by the\n\nsender, the following rules apply:\n\n(1) If the sender proves that the sender or a person acting on\n\nbehalf of the sender pursuant to Section 14 of this act complied\n\nwith the security procedure and that the error would have been\n\ndetected if the receiving bank had also complied, the sender is not\n\nobliged to pay the order to the extent stated in paragraphs (2) and\n\n(3) of this subsection.\n\n(2) If the funds transfer is completed on the basis of an\n\nerroneous payment order described in clause (i) or (iii) of\n\nsubsection (a) of this section, the sender is not obliged to pay the\n\norder and the receiving bank is entitled to recover from the\n\nbeneficiary any amount paid to the beneficiary to the extent allowed\n\nby the law governing mistake and restitution.\n\n(3) If the funds transfer is completed on the basis of a\n\npayment order described in clause (ii) of subsection (a) of this\n\nsection, the sender is not obliged to pay the order to the extent\n\nthe amount received by the beneficiary is greater than the amount\n\nintended by the sender. In that case, the receiving bank is\n\nentitled to recover from the beneficiary the excess amount received\n\nto the extent allowed by the law governing mistake and restitution.\n\n(b) If (i) the sender of an erroneous payment order described\n\nin subsection (a) of this section is not obliged to pay all or part\n\nof the order, and (ii) the sender receives notification from the\n\nreceiving bank that the order was accepted by the bank or that the\n\nsender's account was debited with respect to the order, the sender\n\nhas a duty to exercise ordinary care, on the basis of information\n\navailable to the sender, to discover the error with respect to the\n\norder and to advise the bank of the relevant facts within a\n\nreasonable time, not exceeding ninety (90) days, after the bank's\n\nnotification was received by the sender. If the bank proves that\n\nthe sender failed to perform that duty, the sender is liable to the\n\nbank for the loss the bank proves it incurred as a result of the\n\nfailure, but the liability of the sender may not exceed the amount\n\nof the sender's order.\n\n(c) This section applies to amendments to payment orders to the\n\nsame extent it applies to payment orders.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"fb205014d7f43fa84ddfc4873c047ea46c69a7a77fbebc69e520d374517934f1","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-4a-204","next":"us-ok/okla.-stat.-tit.-12a-12a-4a-206"},"notice":"GroundRules: Original legal text. Not legal advice."}