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§ 4108. Time of receipt of items

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial Code

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 13 Pa.C.S.A. Commercial Code (Refs & Annos)
Division 4. Bank Deposits and Collections (Refs & Annos)
Chapter 41. General Provisions and Definitions
13 Pa.C.S.A. § 4108
§ 4108. Time of receipt of items
Currentness
(a) Cutoff hour for handling and book entries.--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.
(b) Items or deposits received after cutoff hour.--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.

Credits

1979, Nov. 1, P.L. 255, No. 86, § 1, effective Jan. 1, 1980. Amended 1992, July 9, P.L. 507, No. 97, § 8, effective in one year.
13 Pa.C.S.A. § 4108, PA ST 13 Pa.C.S.A. § 4108
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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