New Mexico § 55-4A-504 Order in which items and payment orders may be

New Mexico Statutes

§ 55-4A-504 — Order in which items and payment orders may be

New Mexico § 55-4A-504

Ch. 55Uniform Commercial Code

Art. 4AFunds Transfers

This text of New Mexico § 55-4A-504 (Order in which items and payment orders may be) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 55-4A-504 (2026).

Text

charged to account; order of withdrawals from account.

(a)If a receiving bank has received more than one payment order of the sender or one 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(b)In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.

Free access — add to your briefcase to read the full text and ask questions with AI

charged to account; order of withdrawals from account. (a) If a receiving bank has received more than one payment order of the sender or one 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 (b) In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.