PART 4. 
PAYMENT



 



§490:4A-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. [L 1991, c 41, pt of §1]