California Code, COM 11401.

California Code, COM 11401.

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Commercial Code - COM

DIVISION 11. FUNDS TRANSFERS [11101 - 11507] Â Â ( Division 11 added by Stats. 1990, Ch. 125, Sec. 2. ) Â Â

CHAPTER 4. Payment [11401 - 11406] Â Â ( Chapter 4 added by Stats. 1990, Ch. 125, Sec. 2. )

  11401.  “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. (Added by Stats. 1990, Ch. 125, Sec. 2.)