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Tex. Bus. & Com. Code § 4A.401

PAYMENT DATE

Known as the Uniform Commercial Code

The act spans §§ 1–12 (616 sections).

Added by Acts 1993, 73rd Leg., ch. 570, Sec. 7, eff

"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.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.