28-4-635. ORDER IN WHICH ITEMS AND PAYMENT ORDERS MAY BE CHARGED TO ACCOUNT — ORDER OF WITHDRAWALS FROM ACCOUNT. (1) If a receiving bank has received more than one (1) payment order of the sender or one (1) 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.
(2) In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.
History:
[28-4-635, added 1991, ch. 135, sec. 1, p. 316.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 4 - UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS
Section 28-4-601 - SHORT TITLE.
Section 28-4-602 - SUBJECT MATTER.
Section 28-4-603 - PAYMENT ORDER — DEFINITIONS.
Section 28-4-604 - FUNDS TRANSFER — DEFINITIONS.
Section 28-4-605 - OTHER DEFINITIONS.
Section 28-4-606 - TIME PAYMENT ORDER IS RECEIVED.
Section 28-4-607 - FEDERAL RESERVE REGULATIONS AND OPERATING CIRCULARS.
Section 28-4-608 - RELATIONSHIP TO ELECTRONIC FUND TRANSFER ACT.
Section 28-4-609 - SECURITY PROCEDURE.
Section 28-4-610 - AUTHORIZED AND VERIFIED PAYMENT ORDERS.
Section 28-4-611 - UNENFORCEABILITY OF CERTAIN VERIFIED PAYMENT ORDERS.
Section 28-4-613 - ERRONEOUS PAYMENT ORDERS.
Section 28-4-615 - MISDESCRIPTION OF BENEFICIARY.
Section 28-4-616 - MISDESCRIPTION OF INTERMEDIARY BANK OR BENEFICIARY’S BANK.
Section 28-4-617 - ACCEPTANCE OF PAYMENT ORDER.
Section 28-4-618 - REJECTION OF PAYMENT ORDER.
Section 28-4-619 - CANCELLATION AND AMENDMENT OF PAYMENT ORDER.
Section 28-4-620 - LIABILITY AND DUTY OF RECEIVING BANK REGARDING UNACCEPTED PAYMENT ORDER.
Section 28-4-621 - EXECUTION AND EXECUTION DATE.
Section 28-4-622 - OBLIGATIONS OF RECEIVING BANK IN EXECUTION OF PAYMENT ORDER.
Section 28-4-623 - ERRONEOUS EXECUTION OF PAYMENT ORDER.
Section 28-4-624 - DUTY OF SENDER TO REPORT ERRONEOUSLY EXECUTED PAYMENT ORDER.
Section 28-4-625 - LIABILITY FOR LATE OR IMPROPER EXECUTION OR FAILURE TO EXECUTE PAYMENT ORDER.
Section 28-4-626 - PAYMENT DATE.
Section 28-4-627 - OBLIGATION OF SENDER TO PAY RECEIVING BANK.
Section 28-4-628 - PAYMENT BY SENDER TO RECEIVING BANK.
Section 28-4-629 - OBLIGATION OF BENEFICIARY’S BANK TO PAY AND GIVE NOTICE TO BENEFICIARY.
Section 28-4-630 - PAYMENT BY BENEFICIARY’S BANK TO BENEFICIARY.
Section 28-4-631 - PAYMENT BY ORIGINATOR TO BENEFICIARY — DISCHARGE OF UNDERLYING OBLIGATION.
Section 28-4-632 - VARIATION BY AGREEMENT AND EFFECT OF FUNDS-TRANSFER SYSTEM RULE.
Section 28-4-633 - CREDITOR PROCESS SERVED ON RECEIVING BANK — SETOFF BY BENEFICIARY’S BANK.
Section 28-4-634 - INJUNCTION OR RESTRAINING ORDER WITH RESPECT TO FUNDS TRANSFER.
Section 28-4-636 - PRECLUSION OF OBJECTION TO DEBIT OF CUSTOMER’S ACCOUNT.