Montana Code Annotated 2019

TITLE 30. TRADE AND COMMERCE

CHAPTER 4A. UNIFORM COMMERCIAL CODE FUNDS TRANSFERS

Part 2. Issue and Acceptance of Payment Order

Security Procedure

30-4A-201. Security procedure. "Security procedure" means a procedure established by agreement of a customer and a receiving bank for the purpose of verifying that a payment order or communication amending or canceling a payment order is that of the customer or 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.

History: En. Sec. 197, Ch. 410, L. 1991.