Idaho § 28-4-108 TIME OF RECEIPT OF ITEMS

Idaho Statutes

§ 28-4-108 — TIME OF RECEIPT OF ITEMS

Idaho·Title 28 COMMERCIAL TRANSACTIONS·Part 1. GENERAL PROVISIONS AND DEFINITIONS·Ch. 4 UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS

(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 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 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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