§ 11401 Payment Order Payment Date

Commercial Code·California

AI SummaryVerified

This law explains when money from a payment order must be available to the person receiving it. It says the money can't be available before the bank gets the order, and usually, it's available the same day the bank gets it.

Key Takeaways

•The payment date is when the money must be available to the receiver.
•The payment date can't be earlier than the day the receiver's bank gets the order.
•If no date is given, the payment date is the day the bank gets the order.

Example

You send money to your friend's bank account.

The money must be available to your friend on the day their bank gets the order, unless you say a later date.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 11401 Payment Order Payment Date

“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.)

Last verified: January 10, 2026

Key Terms

Payment date payment order beneficiary’s bank

References

Official text at leginfo.legislature.ca.gov
California Legislature. Commercial Code. Section 11401.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References