{"data":{"id":"us-ky/krs-355.4a-106","jurisdiction":"us-ky","citation":"KRS 355.4A-106","heading":"Time payment order is received.","body":"(1) The time of receipt of a payment order or communication canceling or amending a\npayment order is determined by the rules applicable to receipt of a notice stated in\nKRS 355.1-202. A receiving bank may fix a cutoff time or times on a funds-transfer\nbusiness day for the receipt and processing of payment orders and communications\ncanceling or amending payment orders. Different cutoff times may apply to\npayment orders, cancellations, or amendments, or to different categories of payment\norders, cancellations, or amendments. A cutoff time may apply to senders generally\nor different cutoff times may apply to different senders or categories of payment\norders. If a payment order or communication canceling or amending a payment\norder is received after the close of a f unds-transfer business day or after the\nappropriate cutoff time on a funds -transfer business day, the receiving bank may\ntreat the payment order or communication as received at the opening of the next\nfunds-transfer business day.\n(2) If this article refers to an execution date or payment date or states a day on which a\nreceiving bank is required to take action, and the date or day does not fall on a\nfunds-transfer business day, the next day that is a funds -transfer business day is\ntreated as the date or day stated, unless the contrary is stated in this article.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33560","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:45Z","sha256":"e8612f45225f4deefa3bfb7f36e6d51b491d76b452918318872caa014c5ff629","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.4a-105","next":"us-ky/krs-355.4a-107"},"notice":"GroundRules: Original legal text. Not legal advice."}