New Jersey § 12a:4a-301
Full text of New Jersey New Jersey Statutes § 12a:4a-301, with citation guidance and answers to common questions.
§ 12a:4a-301.
(1) A payment order is “ executed ” by the receiving bank when it issues a payment order intended to carry out the payment
order received by the bank. A payment order received by the beneficiary's bank can be accepted but cannot be
executed. (2) “ Execution date ” of a payment order means the day on which the receiving bank may properly issue
a payment order in execution of the sender's order. The execution date may be determined by instruction of the sender but cannot be
earlier than the day the order is received and, unless otherwise determined, is the
day the order is received. If the sender's instruction states a payment date, the execution date is the payment
date or an earlier date on which execution is reasonably necessary to allow payment
to the beneficiary on the payment date.
Frequently Asked Questions About New Jersey § 12a:4a-301
What does New Jersey Statutes § 12a:4a-301 cover?
Section 12a:4a-301 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 12a:4a-301?
A common citation format is "New Jersey Statutes § 12a:4a-301" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 12a:4a-301 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.