Indiana § 26-1-4.1-504 Order in which items and payment orders may be charged to account;
order of withdrawals from account

Indiana Statutes

§ 26-1-4.1-504 — Order in which items and payment orders may be charged to account; order of withdrawals from account

Indiana § 26-1-4.1-504

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 4.1Fund Transfers

This text of Indiana § 26-1-4.1-504 (Order in which items and payment orders may be charged to account; order of withdrawals from account) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-4.1-504 (2026).

Text

(a)If a receiving bank has received more than one (1) payment order of the sender or one (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.

(b)In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.

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(a) If a receiving bank has received more
than one (1) payment order of the sender or one (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.
(b) 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withdrawn by the holder of the account or applied to a debt of the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withdrawn or applied.