Sections
Part 1 Subject Matter and Definitions § 30-4A-101 – § 30-4A-108
Part 2 Issue and Acceptance of Payment Order § 30-4A-201 – § 30-4A-212
Part 3 Execution of Sender’s Payment Order by Receiving Bank § 30-4A-301 – § 30-4A-305
Part 4 Payment § 30-4A-401 – § 30-4A-406
Part 5 Miscellaneous Provisions § 30-4A-501 – § 30-4A-507

Terms Used In Montana Code > Title 30 > Chapter 4A - Uniform Commercial Code Funds Transfers

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Service of process: The service of writs or summonses to the appropriate party.