The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 4A-206)
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§ 4A—206. Transmission of payment order through funds-transfer or other communication system
(a) If a payment order addressed to a receiving bank is transmitted to a funds-transfer
system or other third-party communication system for transmittal to the bank, the
system is deemed to be an agent of the sender for the purpose of transmitting the
payment order to the bank. If there is a discrepancy between the terms of the payment
order transmitted to the system and the terms of the payment order transmitted by
the system to the bank, the terms of the payment order of the sender are those transmitted
by the system. This section does not apply to a funds-transfer system of the Federal
Reserve Banks.
(b) This section applies to cancellations and amendments of payment orders to the same
extent it applies to payment orders. (Added 1993, No. 158 (Adj. Sess.), § 14, eff. Jan. 1, 1995.)