N.Y. U.C.C. 3-122

Section 3--122. Accrual of Cause of Action.\n (1) A cause of action against a maker or an acceptor accrues\n (a) in the case of a time instrument on the day after maturity;\n (b) in the case of a demand instrument upon its date or, if no\n date is stated, on the date of issue.\n (2) A cause of action against the obligor of a demand or time\ncertificate of deposit accrues upon demand, but demand on a time\ncertificate may not be made until on or after the date of maturity.\n (3) A cause of action against a drawer of a draft or an indorser of\nany instrument accrues upon demand following dishonor of the instrument.\nNotice of dishonor is a demand.\n (4) Unless an instrument provides otherwise, interest runs at the rate\nprovided by law for a judgment\n (a) in the case of a maker, acceptor or other primary obligor of\n a demand instrument, from the date of demand;\n (b) in all other cases from the date of accrual of the cause of\n action.\n