California Commercial Code CHAPTER 4 - Payment

• Section 11401.
  “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....
• Section 11402.
  (a) This section is subject to Sections 11205 and 11207.(b) With respect to a payment order issued to the beneficiary’s bank, acceptance of the order by the...
• Section 11403.
  (a) Payment of the sender’s obligation under Section 11402 to pay the receiving bank occurs as follows:(1) If the sender is a bank, payment occurs when the...
• Section 11404.
  (a) Subject to subdivision (e) of Section 11211, and subdivisions (d) and (e) of Section 11405, if a beneficiary’s bank accepts a payment order, the bank...
• Section 11405.
  (a) If the beneficiary’s bank credits an account of the beneficiary of a payment order, payment of the bank’s obligation under subdivision (a) of Section 11404...
• Section 11406.
  (a) Subject to subdivision (e) of Section 11211 and subdivisions (d) and (e) of Section 11405, the originator of a funds transfer pays the beneficiary of...

Last modified: October 22, 2018