§6A-4.1-401  Payment Date. –


Published: 2015

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TITLE 6A

Uniform Commercial Code

CHAPTER 6A-4.1

Funds Transfers

PART 6A-4.1-401

Payment

SECTION 6A-4.1-401



   § 6A-4.1-401  Payment date. –

"Payment date" of a payment order means the day on which the amount of the

order is payable to the beneficiary by the beneficiary's bank. The payment date

may be determined by instruction of the sender but cannot be earlier than the

day the order is received by the beneficiary's bank and, unless otherwise

determined, is the day the order is received by the beneficiary's bank.



History of Section.

(P.L. 1991, ch. 189, § 1.)