§12A-4A-301.

§12A-4A-301.
   
   EXECUTION AND EXECUTION DATE
   
   (a) A payment order is "executed" by the receiving bank when it issues
   a payment order intended to carry out the payment order received by
   the bank. A payment order received by the beneficiary's bank can be
   accepted but cannot be executed.
   
   (b) "Execution date" of a payment order means the day on which the
   receiving bank may properly issue a payment order in execution of the
   sender's order. The execution date may be determined by instruction of
   the sender but cannot be earlier than the day the order is received
   and, unless otherwise determined, is the day the order is received. If
   the sender's instruction states a payment date, the execution date is
   the payment date or an earlier date on which execution is reasonably
   necessary to allow payment to the beneficiary on the payment date.