New York Uniform Commercial Code Law Section 2-514 - When Documents Deliverable on Acceptance; When on Payment.

Section 2--514.  When  Documents  Deliverable  on  Acceptance;  When  on
          Payment.
Unless otherwise agreed documents against which a draft is  drawn  are
  to  be  delivered  to  the  drawee  on  acceptance of the draft if it is
  payable more than three  days  after  presentment;  otherwise,  only  on
  payment.

Last modified: February 3, 2019