§ 25-4-107. Time of receipt of items. - North Carolina Statutes

§ 25‑4‑107.  Timeof receipt of items.

(a)        For the purpose ofallowing time to process items, prove balances, and make the necessary entrieson its books to determine its position for the day, a bank may fix an afternoonhour of 2:00 p.m. or later as a cutoff hour for the handling of money and itemsand the making of entries on its books.

(b)        An item or depositof money received on any day after a cutoff hour so fixed or after the close ofthe banking day may be treated as being received at the opening of the nextbanking day. (1965, c. 700, s. 1; 1995, c. 232, s. 2.)