North Dakota § 41-04-08 (4-108) Time of receipt of items

North Dakota Statutes

§ 41-04-08 — (4-108) Time of receipt of items

North Dakota·Title 41 Uniform Commercial Code·Ch. 41-04 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 two p.m. or later as a cutoff hour for the handling of money and items and the making of entries on its books.

2.Any 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 two p.m. or later as a cutoff hour for the handling of money and
items and the making of entries on its books.
2. Any 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.

North Dakota § 41-04-08 ((4-108) Time of receipt of items) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.