Texas Business & Commerce Code - Section 4A.401. Payment Date
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Texas Laws > Business & Commerce Code > Texas Business & Commerce Code - Section 4A.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 by Acts 1993, 73rd Leg., ch. 570, § 7, eff. Sept. 1, 1993.
Section: 4A.211 4A.212 4A.301 4A.302 4A.303 4A.304 4A.305 4A.401 4A.402 4A.403 4A.404 4A.405 4A.406 4A.501 4A.502
Last modified: August 11, 2007
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