Vermont § 210 - § 4A—210.

§ 210. § 4A—210.

• Rejection of payment order (a) A payment order is rejected by the receiving bank by a notice of rejection transmitted
  to the sender orally or in a record. A notice of rejection need not use any particular
  words and is sufficient if it indicates that the receiving bank is rejecting the order
  or will not execute or pay the order. Rejection is effective when the notice is given
  if transmission is by a means that is reasonable in the circumstances. If notice of
  rejection is given by a means that is not reasonable, rejection is effective when
  the notice is received. If an agreement of the sender and receiving bank establishes
  the means to be used to reject a payment order, (i) any means complying with the agreement
  is reasonable and (ii) any means not complying is not reasonable unless no significant
  delay in receipt of the notice resulted from the use of the noncomplying means. (b) This subsection applies if a receiving bank other than the beneficiary’s bank fails
  to execute a payment order despite the existence on the execution date of a withdrawable
  credit balance in an authorized account of the sender sufficient to cover the order.
  If the sender does not receive notice of rejection of the order on the execution date
  and the authorized account of the sender does not bear interest, the bank is obliged
  to pay interest to the sender on the amount of the order for the number of days elapsing
  after the execution date to the earlier of the day the order is cancelled pursuant
  to subsection 4A—211(d) of this title or the day the sender receives notice or learns that the order was not executed,
  counting the final day of the period as an elapsed day. If the withdrawable credit
  balance during that period falls below the amount of the order, the amount of interest
  is reduced accordingly. (c) If a receiving bank suspends payments, all unaccepted payment orders issued to it
  are deemed rejected at the time the bank suspends payments. (d) Acceptance of a payment order precludes a later rejection of the order. Rejection
  of a payment order precludes a later acceptance of the order. (Added 1993, No. 158 (Adj. Sess.), § 14, eff. Jan. 1, 1995; amended 2025, No. 17, § 5, eff. July 1, 2025.)