410.207 Misdescription of beneficiary.
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/wi/chapter-410/410-207A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
410.207 Misdescription of beneficiary.
(1)Subject to sub.
(2), if, in a payment order received by the beneficiary’s bank, the name, bank account number, or other identification of the beneficiary refers to a nonexistent or unidentifiable person or account, no person has rights as a beneficiary of the order and acceptance of the order cannot occur.