Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/7-4A-201.htm |
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Depth: | 0 singles |
Size: | 1,046 bytes |
Modified: | 1998-01-30 14:10:42 |
Categories: | -None- |
Title: | 7-4A-201 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 7-4A-201 Security procedure. "Security procedure" means a procedure established by agreement of a customer and a receiving bank for the purpose of (i) verifying that a payment order or communication amending or cancelling a payment order is that of the customer, or (ii) detecting error in the transmission or the content of the payment order or communication. A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, callback procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure. (Acts 1992, 2nd Ex. Sess., No. 92-701, p. 145, ยง1.) |