{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-4a-303","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-4A-303","heading":"Erroneous execution of payment order","body":"ERRONEOUS EXECUTION OF PAYMENT ORDER\n\n(a) A receiving bank that (i) executes the payment order of the\n\nsender by issuing a payment order in an amount greater than the\n\namount of the sender's order, or (ii) issues a payment order in\n\nexecution of the sender's order and then issues a duplicate order,\n\nis entitled to payment of the amount of the sender's order under\n\nsubsection (e) of Section 27 of this act if that subsection is\n\notherwise satisfied. The bank is entitled to recover from the\n\nbeneficiary of the erroneous order the excess payment received to\n\nthe extent allowed by the law governing mistake and restitution.\n\n(b) A receiving bank that executes the payment order of the\n\nsender by issuing a payment order in an amount less than the amount\n\nof the sender's order is entitled to payment of the amount of the\n\nsender's order under subsection (c) of Section 27 of this act if (i)\n\nthat subsection is otherwise satisfied and (ii) the bank corrects\n\nits mistake by issuing an additional payment order for the benefit\n\nof the beneficiary of the sender's order. If the error is not\n\ncorrected, the issuer of the erroneous order is entitled to receive\n\nor retain payment from the sender of the order it accepted only to\n\nthe extent of the amount of the erroneous order. This subsection\n\ndoes not apply if the receiving bank executes the sender's payment\n\norder by issuing a payment order in an amount less than the amount\n\nof the sender's order for the purpose of obtaining payment of its\n\ncharges for services and expenses pursuant to instruction of the\n\nsender.\n\n(c) If a receiving bank executes the payment order of the\n\nsender by issuing a payment order to a beneficiary different from\n\nthe beneficiary of the sender's order and the funds transfer is\n\ncompleted on the basis of that error, the sender of the payment\n\norder that was erroneously executed and all previous senders in the\n\nfunds transfer are not obliged to pay the payment orders they\n\nissued. The issuer of the erroneous order is entitled to recover\n\nfrom the beneficiary of the order the payment received to the extent\n\nallowed by the law governing mistake and restitution.","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":"30d5a7863022e98c60b4de3b703222d2e6eda2909159b10c8df48a9b3d84dada","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-4a-302","next":"us-ok/okla.-stat.-tit.-12a-12a-4a-304"},"notice":"GroundRules: Original legal text. Not legal advice."}