{"data":{"id":"us-ia/iowa-code-554.12106","jurisdiction":"us-ia","citation":"Iowa Code § 554.12106","heading":"Time payment order is received.","body":"1. The time of receipt of a payment order or communication canceling or amending a payment order is determined by the rules applicable to receipt of a notice stated in section 554.1202. A receiving bank may establish a cut-off time or times on a funds-transfer business day for the receipt and processing of payment orders, and communications canceling or amending payment orders. Different cut-off times may apply to payment orders, cancellations, or amendments, or to different categories of payment orders, cancellations, or amendments. A cut-off time may apply to senders generally, or different cut-off times may apply to different senders or categories of payment orders. If a payment order or communication canceling or amending a payment order is received after the close of a funds-transfer business day or after the appropriate cut-off time on a funds-transfer business day, the receiving bank may treat the payment order or communication as received at the opening of the next funds-transfer business day.\n2. Unless otherwise provided, if this Article refers to an execution date or payment date or states a day on which a receiving bank is required to take action, and the date or day does not fall on a funds-transfer business day, the next day that is a funds-transfer business day is treated as the date or day stated.","path":["Title XIII - COMMERCE (Ch. 505 - 554I)","Chapter 554 - UNIFORM COMMERCIAL CODE","Article 12 - FUNDS TRANSFERS","Part 1 - SUBJECT MATTER AND DEFINITIONS"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/554.12106.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:15Z","sha256":"1821836441eb73b669a007af7b68c26f50ab79b66b227041013de912de786348","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-554.12105","next":"us-ia/iowa-code-554.12107"},"notice":"GroundRules: Original legal text. Not legal advice."}