(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(b) In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.
Structure Code of Alabama
Part 5 - Miscellaneous Provisions.
Section 7-4A-501 - Variation by Agreement and Effect of Funds-Transfer System Rule.
Section 7-4A-502 - Creditor Process Served on Receiving Bank; Setoff by Beneficiary's Bank.
Section 7-4A-503 - Injunction or Restraining Order With Respect to Funds Transfer.
Section 7-4A-505 - Preclusion of Objection to Debit of Customer's Account.