RSA 384-H:7: Payment to Beneficiary by Bank.

I. Unless the account agreement provides otherwise, the bank shall be obligated to pay a beneficiary if there are sufficient actually and finally collected funds in the balance of the special deposit.

II. Except as provided in paragraph III, the obligation to pay the beneficiary shall be excused if the funds available in the special deposit are insufficient to cover such payment.

III. Unless the account agreement provides otherwise, if the funds available in the special deposit are insufficient to cover an obligation to pay a beneficiary, a beneficiary may elect to be paid the funds that are available or, if there is more than one beneficiary, a pro rata share of the funds available. Payment to the beneficiary making the election under this paragraph shall discharge the bank's obligation to pay a beneficiary and shall not constitute an accord and satisfaction with respect to another person obligated to the beneficiary.

IV. Unless the account agreement provides otherwise, the obligation of the bank obligated to pay a beneficiary shall be immediately due and payable.

V. The bank may discharge its obligation under this section by:

(a) Crediting another transaction account of the beneficiary; or

(b) Taking other action that:

(1) Is permitted under the account agreement for the bank to obtain a discharge; or

(2) Otherwise would constitute a discharge under law.

VI. If the bank obligated to pay a beneficiary has incurred an obligation to discharge the obligation of another person, the obligation of the other person shall be discharged if action by the bank under paragraph V would constitute a discharge of the obligation of the other person under law that determines whether an obligation is satisfied.