Michigan § 440.4954 - Receiving bank; authority to charge sender's account; credits.
Full text of Michigan Michigan Compiled Laws § 440.4954 — Receiving bank; authority to charge sender's account; credits., with citation guidance and answers to common questions.
§ 440.4954. Receiving bank; authority to charge sender's account; credits.
If a receiving bank has received more than 1 payment order of the sender or 1 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.
In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 440.4954
What does Michigan Compiled Laws § 440.4954 cover?
Section 440.4954 ("Receiving bank; authority to charge sender's account; credits.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 440.4954?
A common citation format is "Michigan Compiled Laws § 440.4954" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 440.4954 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.