§490:4A-203  Unenforceability of certain

verified payment orders.  (a)  If an accepted payment order is not, under

section 490:4A-202(a), an authorized order of a customer identified as sender,

but is effective as an order of the customer pursuant to section 490:4A-202(b),

the following rules apply:

     (1)  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.

     (2)  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 (i) entrusted at any time with

duties to act for the customer with respect to payment orders or the security

procedure, or (ii) 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.  Information includes any access device, computer

software, or the like.

     (b)  This section applies to amendments of

payment orders to the same extent it applies to payment orders. [L 1991, c 41,

pt of §1]