Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
336.4A-505 PRECLUSION OF OBJECTION TO DEBIT OF CUSTOMER'S ACCOUNT.
If a receiving bank has received payment from its customer with respect to a payment order
issued in the name of the customer as sender and accepted by the bank, and the customer received
notification reasonably identifying the order, the customer is precluded from asserting that the
bank is not entitled to retain the payment unless the customer notifies the bank of the customer's
objection to the payment within one year after the notification was received by the customer.
History: 1990 c 582 art 1 s 36
If a receiving bank has received payment from its customer with respect to a payment order
issued in the name of the customer as sender and accepted by the bank, and the customer received
notification reasonably identifying the order, the customer is precluded from asserting that the
bank is not entitled to retain the payment unless the customer notifies the bank of the customer's
objection to the payment within one year after the notification was received by the customer.
History: 1990 c 582 art 1 s 36
Official Publication of the State of Minnesota
Revisor of Statutes