U.C.C. - ARTICLE 4 -§4-108.

U.C.C. - ARTICLE 4 - BANK DEPOSITS AND COLLECTIONS
..PART 1. GENERAL PROVISIONS AND DEFINITIONS

§ 4-108. TIME OF RECEIPT OF ITEMS.

(a) For the purpose of allowing time to process items, prove balances, and make the necessary entries on its books to determine its position for the day, a bank may fix an afternoon hour of 2 P.M. or later as a cutoff hour for the handling of money and items and the making of entries on its books.
(b) An item or deposit of money received on any day after a cutoff hour so fixed or after the close of the banking day may be treated as being received at the opening of the next banking day.

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© Copyright 2005 by The American Law Institute and the National Conference of Commissioners on Uniform State Laws; reproduced, published and distributed with the permission of the Permanent Editorial Board for the Uniform Commercial Code for the limited purposes of study, teaching, and academic research.

U.C.C. - ARTICLE 4 - BANK DEPOSITS AND COLLECTIONS ..PART 1. GENERAL PROVISIONS AND DEFINITIONS

§ 4-108. TIME OF RECEIPT OF ITEMS.

U.C.C. - ARTICLE 4 - BANK DEPOSITS AND COLLECTIONS
..PART 1. GENERAL PROVISIONS AND DEFINITIONS