Texas Business & Commerce Code - Section 4A.504. Order In Which Items And Payment Orders May Be Charged To Account; Order Of Withdrawals From Account
Legal Research Home >
Texas Laws > Business & Commerce Code > Texas Business & Commerce Code - Section 4A.504. Order In Which Items And Payment Orders May Be Charged To Account; Order Of Withdrawals From Account
§ 4A.504. ORDER IN WHICH ITEMS AND PAYMENT ORDERS MAY BE
CHARGED TO ACCOUNT; ORDER OF WITHDRAWALS FROM ACCOUNT. (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withdrawn by the holder of the account or applied to a debt of the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withdrawn or applied.
Added by Acts 1993, 73rd Leg., ch. 570, § 7, eff. Sept. 1, 1993.
Section: 4A.403 4A.404 4A.405 4A.406 4A.501 4A.502 4A.503 4A.504 4A.505 4A.506 4A.507 15.01 15.02 15.03 15.04
Last modified: August 11, 2007
|
