{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-4a-210","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-4A-210","heading":"Rejection of payment order","body":"REJECTION OF PAYMENT ORDER\n\n(a) A payment order is rejected by the receiving bank by a\n\nnotice of rejection transmitted to the sender orally or in a record.\n\nA notice of rejection need not use any particular words and is\n\nsufficient if it indicates that the receiving bank is rejecting the\n\norder or will not execute or pay the order. Rejection is effective\n\nwhen the notice is given if transmission is by a means that is\n\nreasonable in the circumstances. If notice of rejection is given by\n\na means that is not reasonable, rejection is effective when the\n\nnotice is received. If an agreement of the sender and receiving\n\nbank establishes the means to be used to reject a payment order, (i)\n\nany means complying with the agreement is reasonable and (ii) any\n\nmeans not complying is not reasonable unless no significant delay in\n\nreceipt of the notice resulted from the use of the noncomplying\n\nmeans.\n\n(b) This subsection applies if a receiving bank other than the\n\nbeneficiary's bank fails to execute a payment order despite the\n\nexistence on the execution date of a withdrawable credit balance in\n\nan authorized account of the sender sufficient to cover the order.\n\nIf the sender does not receive notice of rejection of the order on\n\nthe execution date and the authorized account of the sender does not\n\nbear interest, the bank is obliged to pay interest to the sender on\n\nthe amount of the order for the number of days elapsing after the\n\nexecution date to the earlier of the day the order is canceled\n\npursuant to subsection (d) of Section 19 of this act or the day the\n\nsender receives notice or learns that the order was not executed,\n\ncounting the final day of the period as an elapsed day. If the\n\nwithdrawable credit balance during that period falls below the\n\namount of the order, the amount of interest is reduced accordingly.\n\n(c) If a receiving bank suspends payments, all unaccepted\n\npayment orders issued to it are deemed rejected at the time the bank\n\nsuspends payments.\n\n(d) Acceptance of a payment order precludes a later rejection\n\nof the order. Rejection of a payment order precludes a later\n\nacceptance of the order.","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":"f1f09eb5496f1e1741fd3cd24038bf21895c1e82b3900418fda50a4c3c6341d4","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-4a-209","next":"us-ok/okla.-stat.-tit.-12a-12a-4a-211"},"notice":"GroundRules: Original legal text. Not legal advice."}