N.Y. UCC Law § 4-A-504
This is the official text of N.Y. UCC Law § 4-A-504, part of New York’s UCC Law — part of the compiled statutory law of New York, published by the state as "UCC Law." Browse the sections below, each linked to its official government source.
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Order in Which Items and Payment Orders May Be Charged to Account; Order of Withdrawals From Account
Official statutory text
Section 4-A-504. Order in Which Items and Payment Orders May Be Charged\n to Account; Order of Withdrawals From Account.\n (1) If a receiving bank has received more than one payment order of\nthe sender or one or more payment orders and other items that are\npayable from the sender's account, the bank may charge the sender's\naccount with respect to the various orders and items in any sequence.\n (2) In determining whether a credit to an account has been withdrawn\nby the holder of the account or applied to a debt of the holder of the\naccount, credits first made to the account are first withdrawn or\napplied.\n
Status: in_force · Read it on the official government site
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