NRS 104A.4211
Cancellation and amendment of payment order.


1.

A communication of the sender of a payment order cancelling or amending the order may be transmitted to the receiving bank orally, electronically or in writing. If a security procedure is in effect between the sender and the receiving bank, the communication is not effective to cancel or amend the order unless the communication is verified pursuant to the security procedure or the bank agrees to the cancellation or amendment.

2.

Except as otherwise provided in subsection 1, a communication by the sender cancelling or amending a payment order is effective to cancel or amend the order if notice of the communication is received at a time and in a manner affording the receiving bank a reasonable opportunity to act on the communication before the bank accepts the payment order.

3.

After a payment order has been accepted, cancellation or amendment of the order is not effective unless the receiving bank agrees or a funds-transfer system rule allows cancellation or amendment without agreement of the bank. The following rules also apply:

(a)

With respect to a payment order accepted by a receiving bank other than the beneficiary’s bank, cancellation or amendment is not effective unless a conforming cancellation or amendment of the payment order issued by the receiving bank is also made.

(b)

With respect to a payment order accepted by the beneficiary’s bank, cancellation or amendment is not effective unless the order was issued in execution of an unauthorized payment order, or because of a mistake by a sender in the funds transfer which resulted in the issuance of a payment order that is a duplicate of a payment order previously issued by the sender, that orders payment to a beneficiary not entitled to receive payment from the originator, or that orders payment in an amount greater than the amount the beneficiary was entitled to receive from the originator. If the payment order is cancelled or amended, the beneficiary’s bank is entitled to recover from the beneficiary any amount paid to the beneficiary to the extent allowed by the law governing mistake and restitution.

4.

An unaccepted payment order is cancelled by operation of law at the close of the fifth funds-transfer business day of the receiving bank after the execution date or payment date of the order.

5.

A cancelled payment order cannot be accepted. If an accepted payment order is cancelled, the acceptance is nullified and no person has any right or obligation based on the acceptance. Amendment of a payment order is deemed to be cancellation of the original order at the time of amendment and issue of a new payment order in the amended form at the same time.

6.

Unless otherwise provided in an agreement of the parties or in a funds-transfer system rule, if the receiving bank, after accepting a payment order, agrees to cancellation or amendment of the order by the sender or is bound by a funds-transfer system rule allowing cancellation or amendment without the bank’s agreement, the sender, whether or not cancellation or amendment is effective, is liable to the bank for any loss and expenses, including reasonable attorney’s fees, incurred by the bank as a result of the cancellation or amendment or attempted cancellation or amendment.

7.

A payment order is not revoked by the death or legal incapacity of the sender unless the receiving bank knows of the death or of an adjudication of incapacity by a court of competent jurisdiction and has reasonable opportunity to act before acceptance of the order.

8.

A funds-transfer system rule is not effective to the extent it conflicts with paragraph (b) of subsection 3.

Source: Section 104A.4211 — Cancellation and amendment of payment order., https://www.­leg.­state.­nv.­us/NRS/NRS-104A.­html#NRS104ASec4211.

104A.010
Applicability of and references to Uniform Commercial Code.
104A.200
Law applicable to transactions entered into before January 1, 1990.
104A.2101
Short title.
104A.2102
Scope.
104A.2103
Definitions and index of definitions.
104A.2104
Leases subject to other law.
104A.2105
Territorial application of article to goods covered by certificate of title.
104A.2106
Limitation on power of parties to consumer lease to choose applicable law and judicial forum.
104A.2107
Waiver or renunciation of claim or right after default.
104A.2108
Unconscionability.
104A.2109
Option to accelerate at will.
104A.2201
Statute of frauds.
104A.2202
Final written expression: Parol or extrinsic evidence.
104A.2203
Seals inoperative.
104A.2204
Formation in general.
104A.2205
Firm offers.
104A.2206
Offer and acceptance in formation of lease contract.
104A.2208
Modification, rescission and waiver.
104A.2209
Lessee under finance lease as beneficiary of supply contract.
104A.2210
Express warranties.
104A.2211
Warranties against interference and against infringement
104A.2212
Implied warranty of merchantability.
104A.2213
Implied warranty of fitness for particular purpose.
104A.2214
Exclusion or modification of warranties.
104A.2215
Cumulation and conflict of warranties express or implied.
104A.2216
Third-party beneficiaries of express and implied warranties.
104A.2217
Identification.
104A.2218
Insurance and proceeds.
104A.2219
Risk of loss.
104A.2220
Effect of default on risk of loss.
104A.2221
Casualty to identified goods.
104A.2301
Enforceability of lease contract.
104A.2302
Title to and possession of goods.
104A.2303
Alienability of party’s interest under lease contract or of lessor’s residual interest in goods
104A.2304
Subsequent lease of goods by lessor.
104A.2305
Sale or sublease of goods by lessee.
104A.2306
Priority of certain liens arising by operation of law.
104A.2307
Priority of liens arising by attachment or levy on, security interests in and other claims to goods.
104A.2308
Special rights of creditors.
104A.2309
Lessor’s and lessee’s rights when goods become fixtures.
104A.2310
Lessor’s and lessee’s rights when goods become accessions.
104A.2311
Priority subject to subordination.
104A.2401
Insecurity: Adequate assurance of performance.
104A.2402
Anticipatory repudiation.
104A.2403
Retraction of anticipatory repudiation.
104A.2404
Substituted performance.
104A.2405
Excused performance.
104A.2406
Procedure on excused performance.
104A.2407
Irrevocable promises: Finance leases.
104A.2501
Default: Procedure.
104A.2502
Notice after default.
104A.2503
Modification or impairment of rights and remedies.
104A.2504
Liquidation of damages.
104A.2505
Cancellation and termination, and effect of cancellation, termination, rescission or fraud on rights and remedies.
104A.2506
Statute of limitations.
104A.2507
Proof of market rent: Time and place.
104A.2508
Lessee’s remedies.
104A.2509
Lessee’s rights on improper delivery
104A.2510
Installment lease contracts: Rejection and default.
104A.2511
Merchant lessee’s duties as to rightfully rejected goods.
104A.2512
Lessee’s duties as to rightfully rejected goods.
104A.2513
Cure by lessor of improper tender or delivery
104A.2514
Waiver of lessee’s objections.
104A.2515
Acceptance of goods.
104A.2516
Effect of acceptance of goods
104A.2517
Revocation of acceptance of goods.
104A.2518
Cover
104A.2519
Lessee’s damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods.
104A.2520
Lessee’s incidental and consequential damages.
104A.2521
Lessee’s right to specific performance or replevin.
104A.2522
Lessee’s right to goods on lessor’s insolvency.
104A.2523
Lessor’s remedies.
104A.2524
Lessor’s right to identify goods to lease contract.
104A.2525
Lessor’s right to possession of goods.
104A.2526
Lessor’s stoppage of delivery in transit or otherwise.
104A.2527
Lessor’s rights to dispose of goods.
104A.2528
Lessor’s damages for nonacceptance, failure to pay, repudiation or other default.
104A.2529
Lessor’s action for the rent.
104A.2530
Lessor’s incidental damages.
104A.2531
Standing to sue third parties for injury to goods.
104A.2532
Lessor’s rights to residual interest.
104A.4101
Short title.
104A.4102
Subject matter.
104A.4103
Payment order: Definitions.
104A.4104
Funds transfer: Definitions.
104A.4105
Other definitions.
104A.4106
Time payment order is received.
104A.4107
Federal Reserve regulations and operating circulars.
104A.4108
Exclusion of certain consumer transactions governed by federal law
104A.4201
Security procedure.
104A.4202
Authorized and verified payment orders.
104A.4203
Unenforceability of certain verified payment orders.
104A.4204
Refund of payment and duty of customer to report with respect to unauthorized payment order.
104A.4205
Erroneous payment orders.
104A.4206
Transmission of payment order through funds-transfer or other communication system.
104A.4207
Misdescription of beneficiary.
104A.4208
Misdescription of intermediary bank or beneficiary’s bank.
104A.4209
Acceptance of payment order.
104A.4210
Rejection of payment order.
104A.4211
Cancellation and amendment of payment order.
104A.4212
Liability and duty of receiving bank regarding unaccepted payment order.
104A.4301
Execution and execution date.
104A.4302
Obligation of receiving bank in execution of payment order.
104A.4303
Erroneous execution of payment order.
104A.4304
Duty of sender to report erroneously executed payment order.
104A.4305
Liability for late or improper execution or failure to execute payment order.
104A.4401
Payment date.
104A.4402
Obligation of sender to pay receiving bank.
104A.4403
Payment by sender to receiving bank.
104A.4404
Obligation of beneficiary’s bank to pay and give notice to beneficiary.
104A.4405
Payment by beneficiary’s bank to beneficiary.
104A.4406
Payment by originator to beneficiary
104A.4501
Variation by agreement and effect of funds-transfer system rule.
104A.4502
Creditor’s process served on receiving bank
104A.4503
Injunction or restraining order with respect to funds transfer.
104A.4504
Order in which items and payment orders may be charged to account
104A.4505
Preclusion of objection to debit of customer’s account.
104A.4506
Rate of interest.
104A.4507
Choice of law.
Last Updated

Jun. 24, 2021

§ 104A.4211’s source at nv​.us