§ 4A-301. Execution and execution date
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 4A-301
§ 4A-301. Execution and execution date
(b) “Execution date” of a payment order means the day on which the receiving bank may properly issue a payment order in execution of the sender's order. The execution date may be determined by instruction of the sender but cannot be earlier than the day the order is received and, unless otherwise determined, is the day the order is received. If the sender's instruction states a payment date, the execution date is the payment date or an earlier date on which execution is reasonably necessary to allow payment to the beneficiary on the payment date.
Credits
Added by Acts 1991, c. 548, § 1, eff. July 1, 1991.
MD Code, Commercial Law, § 4A-301, MD COML § 4A-301
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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