Uniform Commercial Code
§ 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.)