{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-4a-402","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-4A-402","heading":"Obligation of sender to pay receiving bank","body":"OBLIGATION OF SENDER TO PAY RECEIVING BANK\n\n(a) This section is subject to Sections 13 and 15 of this act.\n\n(b) With respect to a payment order issued to the beneficiary's\n\nbank, acceptance of the order by the bank obliges the sender to pay\n\nthe bank the amount of the order, but payment is not due until the\n\npayment date of the order.\n\n(c) This subsection is subject to subsection (e) of this\n\nsection and to Section 23 of this act. With respect to a payment\n\norder issued to a receiving bank other than the beneficiary's bank,\n\nacceptance of the order by the receiving bank obliges the sender to\n\npay the bank the amount of the sender's order. Payment by the\n\nsender is not due until the execution date of the sender's order.\n\nThe obligation of that sender to pay its payment order is excused if\n\nthe funds transfer is not completed by acceptance by the\n\nbeneficiary's bank of a payment order instructing payment to the\n\nbeneficiary of that sender's payment order.\n\n(d) If the sender of a payment order pays the order and was not\n\nobliged to pay all or part of the amount paid, the bank receiving\n\npayment is obliged to refund payment to the extent the sender was\n\nnot obliged to pay. Except as provided in Sections 12 and 24 of\n\nthis act, interest is payable on the refundable amount from the date\n\nof payment.\n\n(e) If a funds transfer is not completed as stated in\n\nsubsection (c) of this section and an intermediary bank is obliged\n\nto refund payment as stated in subsection (d) of this section but is\n\nunable to do so because not permitted by applicable law or because\n\nthe bank suspends payments, a sender in the funds transfer that\n\nexecuted a payment order in compliance with an instruction, as\n\nstated in paragraph (1) of subsection (a) of Section 22 of this act,\n\nto route the funds transfer through that intermediary bank is\n\nentitled to receive or retain payment from the sender of the payment\n\norder that it accepted. The first sender in the funds transfer that\n\nissued an instruction requiring routing through that intermediary\n\nbank is subrogated to the right of the bank that paid the\n\nintermediary bank to refund as stated in subsection (d) of this\n\nsection.\n\n(f) The right of the sender of a payment order to be excused\n\nfrom the obligation to pay the order as stated in subsection (c) or\n\nto receive refund under subsection (d) of this section may not be\n\nvaried by agreement.","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":"4e7020bb501e25e553915ea8153ec538203d20a5901167921ff72ce5d9a58cef","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-4a-401","next":"us-ok/okla.-stat.-tit.-12a-12a-4a-403"},"notice":"GroundRules: Original legal text. Not legal advice."}