Cutoff Time. BNY Mellon and Bank must receive a stop payment order in time to give it a reasonable opportunity to act on it and before its stop-payment cutoff time. The law provides additional limitations on BNY Mellon’s and Bank’s obligation to stop payment. (For example, you cannot stop payment on an item that has already been paid.)
Appears in 2 contracts
Sources: Checking and Financial Recordkeeping Services Agreement (Nassau Life Variable Universal Life Account), Checking and Financial Recordkeeping Services Agreement (Nassau Life Variable Accumulation Account)