- 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.
- 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.
History. Code 1933, § 109A-4-107, enacted by Ga. L. 1962, p. 156, § 1; Code 1981, § 11-4-108 , as redesignated by Ga. L. 1996, p. 1306, § 5.
Editor’s notes.
Ga. L. 1996, p. 1306, § 5, effective July 1, 1996, renumbered former Code Section 11-4-107 as present Code Section 11-4-108 and renumbered former Code Section 11-4-108 as present Code Section 11-4-109.