400.4-108. Time of receipt of items. - Missouri Statutes

Time of receipt of items.

400.4-108. (a) For the purpose of allowing time to processitems, prove balances and make the necessary entries on its booksto determine its position for the day, a bank may fix anafternoon hour of 2:00 p.m. or later as a cutoff hour for thehandling of money and items and the making of entries on itsbooks.

(b) An item or deposit of money received on any day after acutoff hour so fixed or after the close of the banking day may betreated as being received at the opening of the next banking day.

(L. 1992 S.B. 448)

*No continuity with § 400.4-108 as repealed by L. 1992 S.B. 448.