§ 41-04.1-01 (4A-101) Short title
§ 41-04.1-02 (4A-102) Subject matter
§ 41-04.1-03 (4A-103) Payment order – Definitions
§ 41-04.1-04 (4A-104) Funds transfer – Definitions
§ 41-04.1-05 (4A-105) Other definitions
§ 41-04.1-06 (4A-106) Time payment order is received
§ 41-04.1-07 (4A-107) Federal reserve regulations and operating circulars
§ 41-04.1-08 (4A-108) Relationship to Electronic Fund Transfer Act
§ 41-04.1-09 (4A-201) Security procedure
§ 41-04.1-10 (4A-202) Authorized and verified payment orders
§ 41-04.1-11 (4A-203) Unenforceability of certain verified payment orders
§ 41-04.1-12 (4A-204) Refund of payment and duty of customer to report with respect to unauthorized payment order
§ 41-04.1-13 (4A-205) Erroneous payment orders
§ 41-04.1-14 (4A-206) Transmission of payment order through funds-transfer or other communication system
§ 41-04.1-15 (4A-207) Misdescription of beneficiary
§ 41-04.1-16 (4A-208) Misdescription of intermediary bank or beneficiary’s bank
§ 41-04.1-17 (4A-209) Acceptance of payment order
§ 41-04.1-18 (4A-210) Rejection of payment order
§ 41-04.1-19 (4A-211) Cancellation and amendment of payment order
§ 41-04.1-20 (4A-212) Liability and duty of receiving bank regarding unaccepted payment order
§ 41-04.1-21 (4A-301) Execution and execution date
§ 41-04.1-22 (4A-302) Obligations of receiving bank in execution of payment order
§ 41-04.1-23 (4A-303) Erroneous execution of payment order
§ 41-04.1-24 (4A-304) Duty of sender to report erroneously executed payment order
§ 41-04.1-25 (4A-305) Liability for late or improper execution or failure to execute payment order
§ 41-04.1-26 (4A-401) Payment date
§ 41-04.1-27 (4A-402) Obligation of sender to pay receiving bank
§ 41-04.1-28 (4A-403) Payment by sender to receiving bank
§ 41-04.1-29 (4A-404) Obligation of beneficiary’s bank to pay and give notice to beneficiary
§ 41-04.1-30 (4A-405) Payment by beneficiary’s bank to beneficiary
§ 41-04.1-31 (4A-406) Payment by originator to beneficiary – Discharge of underlying obligation
§ 41-04.1-32 (4A-501) Variation by agreement and effect of funds-transfer system rule
§ 41-04.1-33 (4A-502) Creditor process served on receiving bank – Setoff by beneficiary’s bank
§ 41-04.1-34 (4A-503) Injunction or restraining order with respect to funds transfer
§ 41-04.1-35 (4A-504) Order in which items and payment orders may be charged to account – Order withdrawal from account
§ 41-04.1-36 (4A-505) Preclusion of objection to debit of customer’s account
§ 41-04.1-37 (4A-506) Rate of interest
§ 41-04.1-38 (4A-507) Choice of law

Terms Used In North Dakota Code > Chapter 41-04.1 - 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.
  • Authorized: when used with reference to a financing statement record, means that the financing statement record was filed by a person authorized to do so as provided in sections 41-09-80 and 41-09-130. See North Dakota Code 41-10-01
  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • 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
  • following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
  • Process: means a writ or summons issued in the course of judicial proceedings. See North Dakota Code 1-01-49
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Rule: includes regulation. See North Dakota Code 1-01-49
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Verified: means sworn to before an officer authorized to administer oaths. See North Dakota Code 1-01-42
  • year: means twelve consecutive months. See North Dakota Code 1-01-33