N.Y. U.C.C. 4-a-505

Section 4-A-505. Preclusion of Objection to Debit of Customer's\n Account.\n If a receiving bank has received payment from its customer with\nrespect to a payment order issued in the name of the customer as sender\nand accepted by the bank, and the customer received notification\nreasonably identifying the order, the customer is precluded from\nasserting that the bank is not entitled to retain the payment unless the\ncustomer notifies the bank of the customer's objection to the payment\nwithin one year after the notification was received by the customer.\n