New Jersey § 12a:4a-106

§ 12a:4a-106.

(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 section 12A:1-201(27) . A receiving bank may fix a cut-off time or times on a funds-transfer business day

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

amending payment orders. Different cut-off times may apply to payment orders, cancellations, or amendments,

or to different categories of payment orders, cancellations, or amendments. A cut-off time may apply to senders generally or different cut-off 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 cut-off

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 chapter 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 chapter.