Oklahoma Statutes
§ 12A-4-213 — Medium and Time of Settlement by Bank.
Oklahoma·Title 12A Uniform Commercial Code
MEDIUM AND TIME OF SETTLEMENT BY BANK (a) With respect to settlement by a bank, the medium and time of settlement may be prescribed by Federal Reserve regulations or circulars, clearing-house rules, and the like, or agreement. In the absence of such prescription:
(1)The medium of settlement is cash or credit to an account in a Federal Reserve bank of or specified by the person to receive settlement; and (2) The time of settlement, is:
(i)with respect to tender of settlement by cash, a cashier's check, or teller's check, when the cash or check is sent or delivered;
(ii)with respect to tender of settlement by credit in an account in a Federal Reserve bank, when the credit is made;
(iii)with respect to tender of settlement by a credit or debit to an account in a bank, when the credit or d
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Legislative History
Laws 1961, p. 127, § 4-213; Laws 1991, c. 117, § 117, eff. Jan. 1, 1992.
Nearby Sections
15
§ 12A-1-101
Short titles.§ 12A-1-102
Scope of article.§ 12A-1-104
Construction against implicit repeal.§ 12A-1-106
Use of singular and plural - Gender.§ 12A-1-107
Section captions.§ 12A-1-108
Repealed§ 12A-1-108.1
Relationship to Electronic Signatures in Global and§ 12A-1-202
Notice - Knowledge.§ 12A-1-203
Lease distinguished from security interest.§ 12A-1-204
"Value".§ 12A-1-205
Reasonable time - Seasonableness.§ 12A-1-206
Presumptions.