§ 670.501, Fla. Stat. · Part V. MISCELLANEOUS PROVISIONS
Variation by agreement and effect of funds-transfer system rule.
Text — 2026 Florida Statutes
(1) Except as otherwise provided in this chapter, the rights and obligations of a party to a funds transfer may be varied by agreement of the affected party.
(2) “Funds-transfer system rule” means a rule of an association of banks governing transmission of payment orders by means of a funds-transfer system of the association or rights and obligations with respect to those orders, or to the extent the rule governs rights and obligations between banks that are parties to a funds transfer in which a Federal Reserve bank, acting as an intermediary bank, sends a payment order to the beneficiary’s bank. Except as otherwise provided in this chapter, a funds-transfer system rule governing rights and obligations between participating banks using the system may be effective even if the rule conflicts with this chapter and indirectly affects another party to the funds transfer that does not consent to the rule. A funds-transfer system rule may also govern rights and obligations of parties other than participating banks using the system to the extent stated in ss. 670.404(3), 670.405(4), and 670.507(3).
Notes and commentary — not statutory text
History
s. 1, ch. 91-70.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0670/0670.html
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- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
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This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
The Florida Statutes
- § 670.404, Fla. Stat.Obligation of beneficiary’s bank to pay and give notice to beneficiary.Printed as ss. 670.404(3), 670.405(4), and 670.507(3)
- § 670.405, Fla. Stat.Payment by beneficiary’s bank to beneficiary.Printed as ss. 670.404(3), 670.405(4), and 670.507(3)
- § 670.507, Fla. Stat.Choice of law.Printed as ss. 670.404(3), 670.405(4), and 670.507(3)
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The Florida Statutes
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