2011 Louisiana Laws
Revised Statutes
TITLE 10 — Commercial laws
RS 10:4A-504 — Order in which items and payment orders may be charged to account; order of withdrawals from account
§4A-504. Order in which items and payment orders may be charged to account; order of withdrawals from account
(a) If a receiving bank has received more than one payment order of the sender or one or more payment orders and other items that are payable from the sender's account, the bank may charge the sender's account with respect to the various orders and items in any sequence.
(b) In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.
Added by Acts 1990, No. 1079, §4, eff. Sept. 1, 1990.
Disclaimer: These codes may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
