KRS 355.4A-401: Payment date.

"Payment date" of a payment order means the day on which the amount of the order is

payable to the beneficiary by the beneficiary's bank. The payment date may be determined

by instruction of the sender but cannot be earlier than the day the order is receiv ed by the

beneficiary's bank and, unless otherwise determined, is the day the order is received by

the beneficiary's bank.