There is a newer version of the Code of Virginia
2015 Code of Virginia
Title 8.4A - Commercial Code - Funds Transfers
§ 8.4A-401. Payment date
VA Code § 8.4A-401 (2015) What's This?
"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.
1990, c. 9 .
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