{"data":{"id":"us-ia/iowa-code-554.3118","jurisdiction":"us-ia","citation":"Iowa Code § 554.3118","heading":"Accrual of cause of action.","body":"1. A cause of action against a maker or an acceptor accrues\na. in the case of a time instrument on the day after maturity;\nb. in the case of a demand instrument upon its date or, if no date is stated, on the date of issue.\n2. A cause of action against the obligor of a demand or time certificate of deposit accrues upon demand, but demand on a time certificate may not be made until on or after the date of maturity.\n3. A cause of action against a drawer of a draft or an endorser of any instrument accrues upon demand following dishonor of the instrument. Notice of dishonor is a demand.\n4. Unless an instrument provides otherwise, interest runs at the rate provided by law for a judgment\na. in the case of a maker, acceptor or other primary obligor of a demand instrument, from the date of demand;\nb. in all other cases from the date of accrual of the cause of action.","path":["Title XIII - COMMERCE (Ch. 505 - 554I)","Chapter 554 - UNIFORM COMMERCIAL CODE","Article 3 - NEGOTIABLE INSTRUMENTS","Part 1 - GENERAL PROVISIONS AND DEFINITIONS"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/554.3118.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:15Z","sha256":"3505ead732c9c030397f09646be93a97a4969430f20b2f5ff3066660a75cb692","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-554.3117","next":"us-ia/iowa-code-554.3119"},"notice":"GroundRules: Original legal text. Not legal advice."}