Ohio § 1304.60

§ 1304.60.

(A) Division (B) of this section applies if an accepted payment order was transmitted

pursuant to a security procedure for the detection of error, and any of the following

applies: (1) The payment order erroneously instructed payment to a beneficiary not intended by

the sender. (2) The payment order erroneously instructed payment in an amount greater than the amount

intended by the sender. (3) The payment order was an erroneously transmitted duplicate of a payment order previously

sent by the sender. (B)(1) If the sender proves that the sender or a person acting on behalf of the sender pursuant

to section 1304.61 of the Revised Code complied with the security procedure and that the error would have been detected

if the receiving bank had also complied, the sender is not obliged to pay the order

to the extent provided in divisions (B)(2) and (3) of this section. (2) If the funds transfer is completed on the basis of an erroneous payment order described

in division (A)(1) or (3) of this section, the sender is not obliged to pay the order

and the receiving bank may recover from the beneficiary any amount paid to the beneficiary

to the extent allowed by the law governing mistake and restitution. (3) If the funds transfer is completed on the basis of a payment order described in division

(A)(2) of this section, the sender is not obliged to pay the order to the extent the

amount received by the beneficiary is greater than the amount intended by the sender.  In that case, the receiving bank may recover from the beneficiary the excess amount

received to the extent allowed by the law governing mistake and restitution. (C) If the sender of an erroneous payment order described in division (A) of this section

is not obliged to pay all or part of the order, and the sender receives notification

from the receiving bank that the order was accepted by the bank or that the sender's

account was debited with respect to the order, the sender has a duty to exercise ordinary

care, on the basis of information available to the sender, to discover the error with

respect to the order and to advise the bank of the relevant facts within a reasonable

time, not exceeding ninety days, after the bank's notification was received by the

sender.  If the bank proves that the sender failed to perform that duty, the sender is liable

to the bank for the loss the bank proves it incurred as a result of the failure, provided

that the liability of the sender may not exceed the amount of the sender's order. (D) This section applies to amendments to payment orders to the same extent it applies

to payment orders.