South Carolina Statutes
§ 36-4-108 — Time of receipt of items.
(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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South Carolina § 36-4-108 (Time of receipt of items.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 10.4-108; 1966 (54) 2716; 2008 Act No. 204, SECTION 3, eff July 1, 2008.
Nearby Sections
15
§ 36-4-101
Short title.§ 36-4-104
Definitions and index of definitions.§ 36-4-105
Definitions of types of banks.§ 36-4-107
Separate office of bank.§ 36-4-108
Time of receipt of items.§ 36-4-109
Delays.§ 36-4-110
Electronic presentment.§ 36-4-111
Statute of limitations.§ 36-4-203
Effect of instructions.