{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.4A-106.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.4A-106.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.4A-106.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.4A-106.html"}],"law_id":59405,"edition_id":1,"section_id":59405,"structure_id":13363,"section_number":"8.4A-106","catch_line":"Time payment order is received","history":"1990, c. 9; 2003, c. 353.","full_text":"a\n\nThe 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\n\nIf 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.","order_by":null,"text":{"0":{"id":217718,"text":"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.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":217719,"text":"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.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a"}},"ancestry":[{"id":13363,"edition_id":1,"name":"Subject Matter and Definitions","identifier":"1","label":"part","depth":2,"order_by":1,"parent_id":13362,"metadata":{},"date_created":"2026-06-26 03:44:42","date_modified":"2026-06-26 03:44:42","permalink":{"id":283189,"object_type":"structure","relational_id":13363,"identifier":"1","token":"8.4A\/1","url":"\/8.4A\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13362,"edition_id":1,"name":"Commercial Code \u2014 Funds Transfers","identifier":"8.4A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:42","date_modified":"2026-06-26 03:44:42","permalink":{"id":283187,"object_type":"structure","relational_id":13362,"identifier":"8.4A","token":"8.4A","url":"\/8.4A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":72260,"structure_id":13363,"section_number":"8.4A-101","catch_line":"Short title","url":"\/8.4A-101\/","token":"8.4A\/1\/8.4A-101","metadata":false},{"id":80477,"structure_id":13363,"section_number":"8.4A-102","catch_line":"Subject matter","url":"\/8.4A-102\/","token":"8.4A\/1\/8.4A-102","metadata":false},{"id":82029,"structure_id":13363,"section_number":"8.4A-103","catch_line":"Definitions: \"Payment order\"; \"Beneficiary\"; \"Beneficiary's bank\"; \"Receiving bank\"; \"Sender.\"","url":"\/8.4A-103\/","token":"8.4A\/1\/8.4A-103","metadata":false},{"id":68985,"structure_id":13363,"section_number":"8.4A-104","catch_line":"Definitions: \"Funds transfer\"; \"Intermediary bank\"; \"Originator\"; \"Originator's bank.\"","url":"\/8.4A-104\/","token":"8.4A\/1\/8.4A-104","metadata":false},{"id":76749,"structure_id":13363,"section_number":"8.4A-105","catch_line":"Other definitions","url":"\/8.4A-105\/","token":"8.4A\/1\/8.4A-105","metadata":false},{"id":59405,"structure_id":13363,"section_number":"8.4A-106","catch_line":"Time payment order is received","url":"\/8.4A-106\/","token":"8.4A\/1\/8.4A-106","metadata":false},{"id":59247,"structure_id":13363,"section_number":"8.4A-107","catch_line":"Federal Reserve regulations and operating circulars","url":"\/8.4A-107\/","token":"8.4A\/1\/8.4A-107","metadata":false},{"id":54340,"structure_id":13363,"section_number":"8.4A-108","catch_line":"Relationship to Electronic Fund Transfer Act","url":"\/8.4A-108\/","token":"8.4A\/1\/8.4A-108","metadata":false}],"previous_section":{"id":76749,"structure_id":13363,"section_number":"8.4A-105","catch_line":"Other definitions","url":"\/8.4A-105\/","token":"8.4A\/1\/8.4A-105","metadata":false},"next_section":{"id":59247,"structure_id":13363,"section_number":"8.4A-107","catch_line":"Federal Reserve regulations and operating circulars","url":"\/8.4A-107\/","token":"8.4A\/1\/8.4A-107","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.4A-106\/","history_text":"

This law was first created in 1990. The record of its establishment is cataloged in chapter 9 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1990 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2003, chapter 353<\/a>.<\/p>","references":false,"refers_to":[{"id":73844,"section_number":"8.1A-202","catch_line":"Notice; knowledge","order_by":null,"url":"\/8.1A-202\/"}],"permalink":{"id":283211,"object_type":"law","relational_id":59405,"identifier":"8.4A-106","token":"8.4A\/1\/8.4A-106","url":"\/8.4A-106\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.4A-106\/","token":"8.4A\/1\/8.4A-106","dublin_core":{"Title":"Time payment order is received","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.4A-106","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> The time of receipt of a payment order<\/span> or communication cancelling or amending a payment order<\/span> is determined by the rules applicable to receipt of a notice stated in § 8.1A-202<\/a>. 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<\/span> and communications cancelling or amending payment orders<\/span>. Different cut-off times may apply to payment orders<\/span>, cancellations, or amendments, or to different categories of payment orders<\/span>, 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<\/span>. If a payment order<\/span> or communication cancelling or amending a payment order<\/span> 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<\/span> or communication as received at the opening of the next funds-transfer business day. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> 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. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTIME PAYMENT ORDER IS RECEIVED (\u00a7 8.4A-106)\n\na. The time of receipt of a payment order or communication cancelling or\namending a payment order is determined by the rules applicable to receipt of a\nnotice stated in § 8.1A-202. A receiving bank may fix a cut-off time or\ntimes on a funds-transfer business day for the receipt and processing of payment\norders and communications cancelling or amending payment orders. Different\ncut-off times may apply to payment orders, cancellations, or amendments, or to\ndifferent categories of payment orders, cancellations, or amendments. A cut-off\ntime may apply to senders generally or different cut-off times may apply to\ndifferent senders or categories of payment orders. If a payment order or\ncommunication cancelling or amending a payment order is received after the close\nof a funds-transfer business day or after the appropriate cut-off time on a\nfunds-transfer business day, the receiving bank may treat the payment order or\ncommunication as received at the opening of the next funds-transfer business\nday.\n\nb. If this title refers to an execution date or payment date or states a day on\nwhich a receiving bank is required to take action, and the date or day does not\nfall on a funds-transfer business day, the next day that is a funds-transfer\nbusiness day is treated as the date or day stated, unless the contrary is stated\nin this title.\n\nHISTORY: 1990, c. 9; 2003, c. 353.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}