N.Y. Uniform Commercial Code Law § 4-a-401: Payment Date

Section 4-A-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 received by the beneficiary's bank

and, unless otherwise determined, is the day the order is received by

the beneficiary's bank.