                                 CODE OF VIRGINIA

ORDER IN WHICH ITEMS AND PAYMENT ORDERS MAY BE CHARGED TO ACCOUNT; ORDER OF
WITHDRAWALS FROM ACCOUNT (§ 8.4A-504)

a. If a receiving bank has received more than one payment order of the sender or
one or more payment orders and other items that are payable from the
sender&#8217;s account, the bank may charge the sender&#8217;s account with
respect to the various orders and items in any sequence.

b. In determining whether a credit to an account has been withdrawn by the
holder of the account or applied to a debt of the holder of the account, credits
first made to the account are first withdrawn or applied.

HISTORY: 1990, c. 9.