70A-4a-401 - Payment date. - Utah Statutes

70A-4a-401. Payment date.
"Payment date" of a payment order means the day on which the amount of the order ispayable to the beneficiary by the beneficiary's bank. The payment date may be determined byinstruction of the sender but cannot be earlier than the day the order is received by thebeneficiary's bank and, unless otherwise determined, is the day the order is received by thebeneficiary's bank.

Amended by Chapter 237, 1993 General Session