(810 ILCS 5/4A-504)
(from Ch. 26, par. 4A-504)
Order in which items and payment orders may be charged to
account; order of withdrawals from account.
(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(b) In determining whether a credit to an account has been withdrawn by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account, credits first made to the account are first withdrawn or applied.
(Source: P.A. 86-1291.)