Arizona § 47-4108 Time of receipt of items

Arizona Statutes

§ 47-4108 — Time of receipt of items

Arizona·Title 47 Arizona Revised Statutes·Ch. 4 BANK DEPOSITS AND COLLECTIONS·Art. 1 General Provisions and Definitions

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.

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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.

Arizona § 47-4108 (Time of receipt of items) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.