Arkansas Code Title 4, Subtitle 1, Chapter 4a - Funds Transfers, Part 4 - Payment

• § 4-4a-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...
• § 4-4a-402 - Obligation of Sender to Pay Receiving Bank.
  (a) This section is subject to §§ 4-4A-205 and 4-4A-207.(b) With respect to a payment order issued to the beneficiary's bank, acceptance of the...
• § 4-4a-403 - Payment by Sender to Receiving Bank.
  (a) Payment of the sender's obligation under § 4-4A-402 to pay the receiving bank occurs as follows: (1) If the sender is a bank,...
• § 4-4a-404 - Obligation of Beneficiary's Bank to Pay and Give Notice to Beneficiary.
  (a) Subject to §§ 4-4A-211(e), 4-4A-405(d), and 4-4A-405(e), if a beneficiary's bank accepts a payment order, the bank is obliged to pay the amount...
• § 4-4a-405 - Payment by Beneficiary's Bank to Beneficiary.
  (a) If the beneficiary's bank credits an account of the beneficiary of a payment order, payment of the bank's obligation under § 4-4A-404(a) occurs...
• § 4-4a-406 - Payment by Originator to Beneficiary -- Discharge of Underlying Obligation.
  (a) Subject to §§ 4-4A-211(e), 4-4A-405(d), and 4-4A-405(e), the originator of a funds transfer pays the beneficiary of the originator's payment order (i) at...

Last modified: November 15, 2016