28-4-108. TIME OF RECEIPT OF ITEMS. (1) 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.
(2) 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.
History:
[(28-4-108) 1967, ch. 161, sec. 4-107, p. 351; am. and redesig. 1993, ch. 288, sec. 10, p. 1057.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 4 - UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS
Part 1 - GENERAL PROVISIONS AND DEFINITIONS
Section 28-4-101 - SHORT TITLE.
Section 28-4-102 - APPLICABILITY.
Section 28-4-104 - DEFINITIONS AND INDEX OF DEFINITIONS.
Section 28-4-106 - PAYABLE THROUGH OR PAYABLE AT BANK — COLLECTING BANK.
Section 28-4-107 - SEPARATE OFFICE OF A BANK.
Section 28-4-108 - TIME OF RECEIPT OF ITEMS.