§ 6A-4-108 - Time of receipt of items. - Rhode Island Statutes

SECTION 6A-4-108

   § 6A-4-108  Time of receipt of items.– (a) For the purpose of allowing time to process items, prove balances, and makethe necessary entries on its books to determine its position for the day, abank may fix an afternoon hour of two P.M. (2 P.M.) or later as a cutoff hourfor 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 acutoff hour so fixed or after the close of the banking day may be treated asbeing received at the opening of the next banking day.