30-4A-401. 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 cannot 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.
History: En. Sec. 214, Ch. 410, L. 1991.
Structure Montana Code Annotated
Chapter 4A. Uniform Commercial Code Funds Transfers
30-4A-402. Obligation of sender to pay receiving bank
30-4A-403. Payment by sender to receiving bank
30-4A-404. Obligation of beneficiary's bank to pay and give notice to beneficiary
30-4A-405. Payment by beneficiary's bank to beneficiary
30-4A-406. Payment by originator to beneficiary -- discharge of underlying obligation