{"data":{"id":"us-nj/n.j.-stat.-12a-4a-106","jurisdiction":"us-nj","citation":"N.J. Stat. § 12A:4A-106","heading":"Time payment order is received","body":"Time payment order is received.\n(1)    The time of receipt of a payment order or communication cancelling or amending a payment order is determined by the rules applicable to receipt of a notice stated in section 12A:1-201(27). A receiving bank may fix a cut-off time or times on a funds-transfer business day for the receipt and processing of payment orders and communications cancelling 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 cancelling 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.\n(2)    If this chapter 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, unless the contrary is stated in this chapter.\nL.1994,c.114,s.2.","path":["TITLE 12A COMMERCIAL TRANSACTIONS"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"2de6f3b9e70a8ed953bc0b7a5a40e6d941a896165c2a2fb235510d89e4126033","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-12a-4a-105","next":"us-nj/n.j.-stat.-12a-4a-107"},"notice":"GroundRules: Original legal text. Not legal advice."}