Nevada § 104A.4106 - Time payment order is received

§ 104A.4106. Time payment order is received

1. The time of receipt of a payment order or communication cancelling or amending

a payment order is determined by the rules applicable to receipt of a notice stated

in NRS 104.1202 . A receiving bank may fix a cutoff time or times of a funds-transfer business day

for the receipt and processing of payment orders and communications cancelling or

amending payment orders. Different cutoff times may apply to payment orders, cancellations or amendments,

or to different categories of payment orders, cancellations or amendments. A cutoff time may apply to senders generally or different cutoff times may apply

to different senders or categories of payment orders. If a payment order or communication cancelling or amending a payment order is received

after the close of a funds-transfer business day or after the appropriate cutoff 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. 2. 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.