Section 3-122 - Accrual of Cause of Action(1) A cause of action against a maker or an acceptor accrues (a) in the case of a time instrument on the day after maturity;(b) in the case of a demand instrument upon its date or, if no date is stated, on the date of issue.(2) A cause of action against the obligor of a demand or time certificate of deposit accrues upon demand, but demand on a time certificate may not be made until on or after the date of maturity.(3) A cause of action against a drawer of a draft or an indorser of any instrument accrues upon demand following dishonor of the instrument. Notice of dishonor is a demand.(4) Unless an instrument provides otherwise, interest runs at the rate provided by law for a judgment (a) in the case of a maker, acceptor or other primary obligor of a demand instrument, from the date of demand;(b) in all other cases from the date of accrual of the cause of action.