California Statutes
§ 4108. — 4108. (Added by renumbering Section 4107 by Stats. 1992, Ch. 914, Sec. 14.)
California·Code COM Commercial Code - COM·Div. 4. DIVISION 4. BANK DEPOSITS AND COLLECTIONS·Ch. 1. CHAPTER 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 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.
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California § 4108. (4108. (Added by renumbering Section 4107 by Stats. 1992, Ch. 914, Sec. 14.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
McMullen Oil Co. v. Crysen Refining, Inc. (In Re McMullen Oil Co.)
251 B.R. 558 (C.D. California, 2000)
Legislative History
Added by renumbering Section 4107 by Stats. 1992, Ch. 914, Sec. 14. Effective January 1, 1993.