South Dakota Statutes
§ 57A-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 two 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 Dakota § 57A-4-108 (Time of receipt of items.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1994, ch 368, § 4-108.
Nearby Sections
15
§ 57A-1-101
Short title.§ 57A-1-102
Scope of chapter.§ 57A-1-104
Construction against implied repeal.§ 57A-1-105
Severability.§ 57A-1-106
Use of singular and plural--Gender.§ 57A-1-107
Section captions.§ 57A-1-201
General definitions.§ 57A-1-202
Notice--Knowledge.§ 57A-1-203
Lease distinguished from security interest.§ 57A-1-204
Value.§ 57A-1-205
Reasonable time--Seasonableness.§ 57A-1-206
Presumptions.§ 57A-1-207
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