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2011 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 4-A: FUNDS TRANSFERS
11 §4-1401. Payment date


11 ME Rev Stat § 4-1401 (2011 through 125th Legis) What's This?

Part 4: PAYMENT

§4-1401. 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 can not 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. [1991, c. 812, §2 (NEW).]

SECTION HISTORY

1991, c. 812, §2 (NEW).

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