Effective: October 23, 1991
Latest Legislation: House Bill 221 - 119th General Assembly
(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 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(B) In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.