Tex. Bus. & Com. Code § 4A.501 · Subchapter E. MISCELLANEOUS PROVISIONS
VARIATION BY AGREEMENT AND EFFECT OF FUNDS TRANSFER SYSTEM RULE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) 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.
(b) "Funds transfer system rule" means a rule of an association of banks (i) 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 (ii) 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 who 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 Sections 4A.404(c), 4A.405(d), and 4A.507(c).
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 570, Sec. 7, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.4A.htm
- Text hash
- sha256 6e98b0a8046045184ddb17a42a469f1f7528a5de59c3a0948a5f302527beb9f7
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
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Business & Commerce Code
- Tex. Bus. & Com. Code § 4A.404OBLIGATION OF BENEFICIARY'S BANK TO PAY AND GIVE NOTICE TO BENEFICIARY.Printed as Sections 4A.404(c), 4A.405(d), and 4A.507(c)
- Tex. Bus. & Com. Code § 4A.405PAYMENT BY BENEFICIARY'S BANK TO BENEFICIARY.Printed as Sections 4A.404(c), 4A.405(d), and 4A.507(c)
- Tex. Bus. & Com. Code § 4A.507CHOICE OF LAW.Printed as Sections 4A.404(c), 4A.405(d), and 4A.507(c)
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Business & Commerce Code
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