(b) If (i) the sender of an erroneous payment order described in
subsection (a) is not obliged to pay all or part of the order, and (ii) 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 90 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, but the liability of the
sender may not exceed the amount of the sender's order.
(c) This Section applies to amendments to payment orders to the same
extent it applies to payment orders.
(Source: P.A. 86-1291.)