(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(b) In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.
Section: Previous 45.14.501 45.14.502 45.14.503 45.14.504 45.14.505 45.14.506 45.14.507 NextLast modified: November 15, 2016