Section 400.4-108 Time of receipt of items.

MO Rev Stat § 400.4-108 (2019) (N/A)
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Effective 28 Aug 1992

400.4-108. 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 2:00 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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(L. 1992 S.B. 448)