ORS 74A.2030
Unenforceability of certain verified payment orders


(1)

If an accepted payment order is not, under ORS 74A.2020 (Authorized and verified payment orders), an authorized order of a customer identified as sender, but is effective as an order of the customer pursuant to ORS 74A.2020 (Authorized and verified payment orders), the following rules apply:

(a)

By express written agreement, the receiving bank may limit the extent to which it is entitled to enforce or retain payment of the payment order.

(b)

The receiving bank is not entitled to enforce or retain payment of the payment order if the customer proves that the order was not caused, directly or indirectly, by a person:

(A)

Entrusted at any time with duties to act for the customer with respect to payment orders or the security procedure; or

(B)

Who obtained access to transmitting facilities of the customer or who obtained from a source controlled by the customer and without authority of the receiving bank, information facilitating breach of the security procedure, regardless of how the information was obtained or whether the customer was at fault.

(2)

“Information” includes any access device, computer software or the like.

(3)

This section applies to amendments of payment orders to the same extent it applies to payment orders. [1991 c.442 §11]

Source: Section 74A.2030 — Unenforceability of certain verified payment orders, https://www.­oregonlegislature.­gov/bills_laws/ors/ors74A.­html.

74A.1010
Short title
74A.1020
Subject matter
74A.1030
Payment order
74A.1040
Funds transfer
74A.1050
Other definitions
74A.1060
Time payment order is received
74A.1070
Federal Reserve regulations and operating circulars
74A.1080
Exclusion of consumer transactions covered by federal law
74A.2010
Security procedure
74A.2020
Authorized and verified payment orders
74A.2030
Unenforceability of certain verified payment orders
74A.2040
Refund of payment and duty of customer to report with respect to unauthorized payment order
74A.2050
Erroneous payment orders
74A.2060
Transmission of payment order through funds transfer or other communication system
74A.2070
Misdescription of beneficiary
74A.2080
Misdescription of intermediary bank or beneficiary’s bank
74A.2090
Acceptance of payment order
74A.2100
Rejection of payment order
74A.2110
Cancellation and amendment of payment order
74A.2120
Liability and duty of receiving bank regarding unaccepted payment order
74A.3010
Execution and execution date
74A.3020
Obligations of receiving bank in execution of payment order
74A.3030
Erroneous execution of payment order
74A.3040
Duty of sender to report erroneously executed payment order
74A.3050
Liability for late or improper execution or failure to execute payment order
74A.4010
Payment date
74A.4020
Obligation of sender to pay receiving bank
74A.4030
Payment by sender to receiving bank
74A.4040
Obligation of beneficiary’s bank to pay and give notice to beneficiary
74A.4050
Payment by beneficiary’s bank to beneficiary
74A.4060
Payment by originator to beneficiary
74A.5010
Variation by agreement and effect of funds-transfer system rule
74A.5020
Creditor process served on receiving bank
74A.5030
Injunction or restraining order with respect to funds transfer
74A.5040
Order in which items and payment orders may be charged to account
74A.5050
Preclusion of objection to debit of customer’s account
74A.5060
Rate of interest
74A.5070
Choice of law
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