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§ 4-108. Time of Receipt of Items

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 4. Bank Deposits and Collections (Refs & Annos)
Part 1. General Provisions and Definitions
12A Okl.St.Ann. § 4-108
§ 4-108. Time of Receipt of Items
Currentness
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 2:00 p.m. or later as a cut-off 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 cut-off so fixed or after the close of the banking day may be treated as being received at the opening of the next banking day.

Credits

Laws 1991, c. 117, § 101, eff. Jan. 1, 1992.
12A Okl. St. Ann. § 4-108, OK ST T. 12A § 4-108
Current with emergency effective legislation through Chapter 125 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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