2021 Tennessee Code
Part 2 - Issue and Acceptance of Payment Order
§ 47-4A-209. Acceptance of Payment Order

If notice of rejection is received by the sender after the payment date and the authorized account of the sender does not bear interest, the bank is obliged to pay interest to the sender on the amount of the order for the number of days elapsing after the payment date to the day the sender receives notice or learns that the order was not accepted, counting that day as an elapsed day. If the withdrawable credit balance during that period falls below the amount of the order, the amount of interest payable is reduced accordingly.
Pays the beneficiary as stated in § 47-4A-405(a) or § 47-4A-405(b); or
Notifies the beneficiary of receipt of the order or that the account of the beneficiary has been credited with respect to the order, unless the notice indicates that the bank is rejecting the order or that funds with respect to the order may not be withdrawn or used until receipt of payment from the sender of the order;
One (1) hour after that time; or
One (1) hour after the opening of the next business day of the sender following the payment date if that time is later.

Structure 2021 Tennessee Code