2013 Vermont Statutes
Title 09A Uniform Commercial Code
Article 4A Funds Transfers
§ 401 Payment date
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. (Added 1993, No. 158 (Adj. Sess.), 14, eff. Jan. 1, 1995.)
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