554.12504 Order in which items and payment orders may be charged to account — order of withdrawals from account. 1. 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, thebank may charge the sender’s account with respect to the various orders and items in anysequence. 2. In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account arefirst withdrawn or applied. 92 Acts, ch 1146, §35 Sat Dec 23 11:03:00 2023 Iowa Code 2024, Section 554.12504 (24, 0)
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