‘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. Source. 1993, 346:7, eff. Jan.

This section of the New Hampshire Revised Statutes, specifically the Uniform Commercial Code (Chapter 382-A), governs the obligation of the sender to pay the receiving bank in the context of payment orders. It outlines the obligations of the sender depending on whether the payment order is issued to the beneficiary’s bank or a receiving bank other than the beneficiary’s bank. The sender is obliged to pay the bank the amount of the order, with payment due on the payment date or execution date of the order, respectively.

This legal document governs the payment of the sender’s obligation to the receiving bank under Section 4A-402 of the Uniform Commercial Code. It outlines the various scenarios in which payment occurs, depending on whether the sender is a bank, the method of payment, and the rules of the funds-transfer system. The document also discusses the concept of final settlement and the ability to set off obligations among participants in a funds-transfer system.

This legal provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code, outlines the obligations of a beneficiary’s bank regarding payment and notice to the beneficiary. If a beneficiary’s bank accepts a payment order, it is required to pay the amount of the order to the beneficiary on the payment date. However, if acceptance occurs after the close of the bank’s funds-transfer business day, payment is due on the next funds-transfer business day.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the payment made by a beneficiary’s bank to the beneficiary. It outlines the conditions under which the bank’s obligation to pay is fulfilled, including when the beneficiary is notified of the right to withdraw the credit, when the bank applies the credit to a debt of the beneficiary, or when funds are otherwise made available to the beneficiary.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the payment by the originator to the beneficiary in a funds transfer and the discharge of the underlying obligation. It applies to originators and beneficiaries involved in funds transfers. The originator is required to pay the beneficiary at the time the payment order is accepted by the beneficiary’s bank, in an amount equal to or less than the originator’s order.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the rights and obligations of parties involved in a funds transfer. It allows for the variation of these rights and obligations through agreement. The document also defines ‘funds-transfer system rule’ as a rule of an association of banks that governs the transmission of payment orders or the rights and obligations between banks involved in a funds transfer.

This section of the New Hampshire Revised Statutes, specifically the Uniform Commercial Code (Chapter 382-A), governs the process of creditor process served on a receiving bank and the setoff by a beneficiary’s bank. The section defines ‘creditor process’ as various legal processes issued by or on behalf of a creditor or claimant with respect to an account. If creditor process is served on the receiving bank regarding an authorized account, the balance in the account is deemed to be reduced by the amount of the payment order, unless the bank had a reasonable opportunity to act on the process before accepting the payment order.

For proper cause and in compliance with applicable law, a court may restrain (i) a person from issuing a payment order to initiate a funds transfer, (ii) an originator’s bank from executing the payment order of the originator, or (iii) the beneficiary’s bank from releasing funds to the beneficiary or the beneficiary from withdrawing the funds. A court may not otherwise restrain a person from issuing a payment order, paying or receiving payment of a payment order, or otherwise acting with respect to a funds transfer.

(a) If a receiving bank has received more than one payment order of the sender or one or more payment orders and other items that are payable from the sender’s account, the bank may charge the sender’s account with respect to the various orders and items in any sequence. (b) In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.