Sec. 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. 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.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1, eff. Sept. 1, 1967. Renumbered from Sec. 4.107 and amended by Acts 1995, 74th Leg., ch. 921, Sec. 4, eff. Jan. 1, 1996.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 4 - Bank Deposits and Collections
Subchapter A. General Provisions and Definitions
Section 4.103. Variation by Agreement; Measure of Damages; Action Constituting Ordinary Care
Section 4.104. Definitions and Index of Definitions
Section 4.106. Payable Through or Payable at Bank; Collecting Bank
Section 4.107. Separate Office of a Bank
Section 4.108. Time of Receipt of Items
Section 4.110. Electronic Presentment