IC 26-1-4.1-401 — "Payment date"

Section text

Sec. 401. "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.

As added by P.L.189-1991, SEC.4.

Source: official publisher (2026 edition)

Sections citing IC 26-1-4.1-401

• IC 26-1-4.1-105