Iowa § 554.4108 Time of receipt of items

Iowa Statutes

§ 554.4108 — Time of receipt of items

Iowa § 554.4108

Title XIIICOMMERCE

Ch. 554UNIFORM COMMERCIAL CODE

This text of Iowa § 554.4108 (Time of receipt of items) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 554.4108 (2026).

Text

1.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 cutoff hour for the handling of money and items and the making of entries on its books.

2.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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1. 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 cutoff hour for the handling of money and items
and the making of entries on its books.
2. 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.