30-4-107. 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 cut-off hour for the handling of money and items and the making of entries on its books.
(2) Any item or deposit of money received on any day after a cut-off 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: En. Sec. 4-107, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-107.
Structure Montana Code Annotated
Chapter 4. Uniform Commercial Code Bank Deposits and Collections
Part 1. General Provisions and Definitions
30-4-103. Variation by agreement -- measure of damages -- action constituting ordinary care
30-4-104. Definitions and index of definitions
30-4-106. Separate office of a bank
30-4-107. Time of receipt of items
30-4-110. Payable through or payable at bank -- collecting bank