§ 6A-4-108. Time of receipt of items.
(a) 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 two P.M. (2 P.M.) or later as a cutoff hour for 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 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 of Section.P.L. 2000, ch. 238, § 4; P.L. 2000, ch. 421, § 4.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-4 - Bank Deposits and Collections
Part 1 - General Provisions and Definitions
Section 6A-4-101. - Short title.
Section 6A-4-102. - Applicability.
Section 6A-4-103. - Variation by agreement — Measure of damages — Action constituting ordinary care.
Section 6A-4-104. - Definitions and index of definitions.
Section 6A-4-106. - Payable through or payable at bank: collecting bank.
Section 6A-4-107. - Separate office of bank.
Section 6A-4-108. - Time of receipt of items.