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ACH Contracts: State interpretation

Answered by: 

Question: 
Are requirements of UCC4A the same in every state?
Answer: 

No. UCC4A is state law. Two states’ laws can read the same, yet court cases in one state may create completely different interpretations than the other state. That is why it is especially important that a bank understands the state they choose that governs their ACH contracts.

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Learn more about Rayleen Pirnie’s webinar Merging ACH and UCC4A

First published on 06/07/2020

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