§ 36-4A-101 Short title
§ 36-4A-102 Subject matter
§ 36-4A-103 Payment order-Definitions
§ 36-4A-104 Funds transfer-Definitions
§ 36-4A-105 Other definitions
§ 36-4A-106 Time payment order is received
§ 36-4A-107 Federal reserve regulations and operating circulars
§ 36-4A-108 Application of chapter
§ 36-4A-201 Security procedure
§ 36-4A-202 Authorized and verified payment orders
§ 36-4A-203 Unenforceability of certain verified payment orders
§ 36-4A-204 Refund of payment and duty of customer to report with respect to unauthorized payment order
§ 36-4A-205 Erroneous payment orders
§ 36-4A-206 Transmission of payment order through funds-transfer or other communication system
§ 36-4A-207 Misdescription of beneficiary
§ 36-4A-208 Misdescription of intermediary bank or beneficiary’s bank
§ 36-4A-209 Acceptance of payment order
§ 36-4A-210 Rejection of payment order
§ 36-4A-211 Cancellation and amendment of payment order
§ 36-4A-212 Liability and duty of receiving bank regarding unaccepted payment order
§ 36-4A-301 Execution and execution date
§ 36-4A-302 Obligations of receiving bank in execution of payment order
§ 36-4A-303 Erroneous execution of payment order
§ 36-4A-304 Duty of sender to report erroneously executed payment order
§ 36-4A-305 Liability for late or improper execution or failure to execute payment order
§ 36-4A-401 Payment date
§ 36-4A-402 Obligation of sender to pay receiving bank
§ 36-4A-403 Payment by sender to receiving bank
§ 36-4A-404 Obligation of beneficiary’s bank to pay and give notice to beneficiary
§ 36-4A-405 Payment by beneficiary’s bank to beneficiary
§ 36-4A-406 Payment by originator to beneficiary; discharge of underlying obligation
§ 36-4A-501 Variation by agreement and effect of funds-transfer system rule
§ 36-4A-502 Creditor process served on receiving bank; setoff by beneficiary’s bank
§ 36-4A-503 Injunction or restraining order with respect to funds transfer
§ 36-4A-504 Order in which items and payment orders may be charged to account; order of withdrawals from account
§ 36-4A-505 Preclusion of objection to debit of customer’s account
§ 36-4A-506 Rate of interest
§ 36-4A-507 Choice of law

Terms Used In South Carolina Code > Title 36 > Chapter 4A - Commercial Code - Funds Transfers

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • 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.
  • Arrest: Taking physical custody of a person by lawful authority.
  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Emergency: shall mean actual or threatened enemy attack, sabotage, conflagration, flood, storm, epidemic, earthquake, riot, or other public calamity. See South Carolina Code 25-1-430
  • Emergency preparedness: shall mean the extraordinary actions of government in preparing for and carrying out all functions and operations, other than those for which the military is primarily responsible, when concerted, coordinated action by several agencies or departments of government and private sector organizations are required to prevent, minimize, and repair injury and damage resulting from a disaster of any origin. See South Carolina Code 25-1-430
  • 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
  • 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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Oath: A promise to tell the truth.
  • 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.
  • Organized militia: refers to both the National Guard and the organized militia not in National Guard service. See South Carolina Code 25-1-10
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • 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.
  • Statute: A law passed by a legislature.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.