O.C.G.A.
O.C.G.A.

11-4A-504 (2019)

Order in which items and payment orders may be charged to account; order of withdrawals from account

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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(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’s account, the bank may charge the sender’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(b) In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.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

Code 1981, § 11-4A-504, enacted by Ga. L. 1992, p. 2685, § 4.

Annotations

RESEARCH REFERENCES U.L.A. Uniform Commercial Code (U.L.A.) § 4A-504.