One Click Case Law for § 11-4a-106
O.C.G.A. § 11-4a-105 <-- --> O.C.G.A. §11-4a-107

2010 Georgia Code

TITLE 11 - COMMERCIAL CODE
ARTICLE 4A - FUNDS TRANSFERS
PART 1 - SUBJECT MATTER AND DEFINITIONS
§ 11-4A-106 - Time payment order is received

O.C.G.A. 11-4A-106 (2010)
11-4A-106. Time payment order is received


(a) The time of receipt of a payment order or communication canceling or amending a payment order is determined by the rules applicable to receipt of a notice stated in Code Section 11-1-201(27). A receiving bank may fix a cut-off time or times on a funds-transfer business day for the receipt and processing of payment orders and communications canceling or amending payment orders. Different cut-off times may apply to payment orders, cancellations, or amendments, or to different categories of payment orders, cancellations, or amendments. A cut-off time may apply to senders generally or different cut-off times may apply to different senders or categories of payment orders. If a payment order or communication canceling or amending a payment order is received after the close of a funds-transfer business day or after the appropriate cut-off time on a funds-transfer business day, the receiving bank may treat the payment order or communication as received at the opening of the next funds-transfer business day.

(b) If this article refers to an execution date or payment date or states a day on which a receiving bank is required to take action, and the date or day does not fall on a funds-transfer business day, the next day that is a funds-transfer business day is treated as the date or day stated, unless the contrary is stated in this article.