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the Maine Revised Statutes
2012 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 4-A: FUNDS TRANSFERS
11 §4-1401. Payment date
Universal Citation:
11 ME Rev Stat § 4-1401 (2012 through 125th Legis)
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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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