Sec. 42a-4-108. Time of receipt of items. - Connecticut Statutes

      Sec. 42a-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 two o'clock 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.

      (1959, P.A. 133, S. 4-108; P.A. 91-304, S. 75.)

      History: P.A. 91-304 entirely replaced former provisions re delays by a bank in handling items with provisions re time of receipt of items, a restatement of Sec. 42a-4-107, revised to 1991.

      See Sec. 42a-4-109 for successor provisions to Sec. 42a-4-108, revised to 1991, re delays by a bank in handling items.