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2001 Florida Statutes

Title XXXIX Commercial Relations
Chapter 670 UNIFORM COMMERCIAL CODE: FUNDS TRANSFERS Entire Chapter
SECTION 401
Payment date.
Section 670.401, Florida Statutes 2001

670.401  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.--s. 1, ch. 91-70.