{"data":{"id":"us-va/va.-code-8.4a-106","jurisdiction":"us-va","citation":"Va. Code § 8.4A-106","heading":"Time payment order is received","body":"(a) 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 § 8.1A-202. 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.(b) If this title 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 title.1990, c. 9; 2003, c. 353.","path":["Title 8.4A. COMMERCIAL CODE — FUNDS TRANSFERS","Part 1. SUBJECT MATTER AND DEFINITIONS"],"source_url":"https://law.lis.virginia.gov/vacode/8.4A-106/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:13:09Z","sha256":"f3c5119bb4fb29d80e64fd7a3f046792d74c6903fba89f84ad3d2eca07c7f607","source_id":"us-va","stale":true,"prev":"us-va/va.-code-8.4a-105","next":"us-va/va.-code-8.4a-107"},"notice":"GroundRules: Original legal text. Not legal advice."}