{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-4a-302","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-4A-302","heading":"Obligations of receiving bank in execution of payment","body":"order.\n\nOBLIGATIONS OF RECEIVING BANK IN EXECUTION OF PAYMENT ORDER\n\n(a) Except as provided in subsections (b) through (d) of this\n\nsection, if the receiving bank accepts a payment order pursuant to\n\nsubsection (a) of Section 17 of this act, the bank has the following\n\nobligations in executing the order:\n\n(1) The receiving bank is obliged to issue, on the execution\n\ndate, a payment order complying with the sender's order and to\n\nfollow the sender's instructions concerning (i) any intermediary\n\nbank or funds-transfer system to be used in carrying out the funds\n\ntransfer, or (ii) the means by which payment orders are to be\n\ntransmitted in the funds transfer. If the originator's bank issues\n\na payment order to an intermediary bank, the originator's bank is\n\nobliged to instruct the intermediary bank according to the\n\ninstruction of the originator. An intermediary bank in the funds\n\ntransfer is similarly bound by an instruction given to it by the\n\nsender of the payment order it accepts.\n\n(2) If the sender's instruction states that the funds transfer\n\nis to be carried out telephonically or by wire transfer or otherwise\n\nindicates that the funds transfer is to be carried out by the most\n\nexpeditious means, the receiving bank is obliged to transmit its\n\npayment order by the most expeditious available means, and to\n\ninstruct any intermediary bank accordingly. If a sender's\n\ninstruction states a payment date, the receiving bank is obliged to\n\ntransmit its payment order at a time and by means reasonably\n\nnecessary to allow payment to the beneficiary on the payment date or\n\nas soon thereafter as is feasible.\n\n(b) Unless otherwise instructed, a receiving bank executing a\n\npayment order may (i) use any funds-transfer system if use of that\n\nsystem is reasonable in the circumstances, and (ii) issue a payment\n\norder to the beneficiary's bank or to an intermediary bank through\n\nwhich a payment order conforming to the sender's order can\n\nexpeditiously be issued to the beneficiary's bank if the receiving\n\nbank exercises ordinary care in the selection of the intermediary\n\nbank. A receiving bank is not required to follow an instruction of\n\nthe sender designating a funds-transfer system to be used in\n\ncarrying out the funds transfer if the receiving bank, in good\n\nfaith, determines that it is not feasible to follow the instruction\n\nor that following the instruction would unduly delay completion of\n\nthe funds transfer.\n\n(c) Unless paragraph (2) of subsection (a) of this section\n\napplies or the receiving bank is otherwise instructed, the bank may\n\nexecute a payment order by transmitting its payment order by first\n\nclass mail or by any means reasonable in the circumstances. If the\n\nreceiving bank is instructed to execute the sender's order by\n\ntransmitting its payment order by a particular means, the receiving\n\nbank may issue its payment order by the means stated or by any means\n\nas expeditious as the means stated.\n\n(d) Unless instructed by the sender, (i) the receiving bank may\n\nnot obtain payment of its charges for services and expenses in\n\nconnection with the execution of the sender's order by issuing a\n\npayment order in an amount equal to the amount of the sender's order\n\nless the amount of the charges, and (ii) may not instruct a\n\nsubsequent receiving bank to obtain payment of its charges in the\n\nsame manner.","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":"b0447f5dccc4fb4adf334f07e46ab2b02bf8e223a655a7e85b57c2471d529fe4","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-4a-301","next":"us-ok/okla.-stat.-tit.-12a-12a-4a-303"},"notice":"GroundRules: Original legal text. Not legal advice."}