§4-1401. Payment date
"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. The payment date may be determined by instruction of the sender but can not be earlier than the day the order is received by the beneficiary's bank and, unless otherwise determined, is the day the order is received by the beneficiary's bank. [PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
Structure Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
11 §4-1402. Obligation of sender to pay receiving bank
11 §4-1403. Payment by sender to receiving bank
11 §4-1404. Obligation of beneficiary's bank to pay and give notice to beneficiary
11 §4-1405. Payment by beneficiary's bank to beneficiary
11 §4-1406. Payment by originator to beneficiary; discharge of underlying obligation