New York Uniform Commercial Code Law Part 4 - PAYMENT

• 4-a-401 - Payment Date.
  Section "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...
• 4-a-402 - Obligation of Sender to Pay Receiving Bank.
  Section (1) This section is subject to Sections 4-A-205 and 4-A-207. (2) With respect to a payment order issued to the beneficiary's bank, acceptance of...
• 4-a-403 - Payment by Sender to Receiving Bank.
  Section (1) Payment of the sender's obligation under Section 4-A-402 to pay the receiving bank occurs as follows: (a) If the sender is a bank,...
• 4-a-404 - Obligation of Beneficiary's Bank to Pay and Give Notice to Beneficiary.
  Section (1) Subject to subsection (5) of Section 4-A-211 and subsections (4) and (5) of Section 4-A-405, if a beneficiary's bank accepts a payment order,...
• 4-a-405 - Payment by Beneficiary's Bank to Beneficiary.
  Section (1) If the beneficiary's bank credits an account of the beneficiary of a payment order, payment of the bank's obligation under subsection (1) of...
• 4-a-406 - Payment by Originator to Beneficiary; Discharge of Underlying Obligation.
  Section (1) Subject to subsection (5) of Section 4-A-211 and subsections (4) and (5) of Section 4-A-405, the originator of a funds transfer pays the...

Last modified: February 3, 2019