2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
336.4-108 MS 1990 [Renumbered
336.4-109]
336.4-108 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.
History: 1965 c 811 s 336.4-107; 1992 c 565 s 79
336.4-108 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.
History: 1965 c 811 s 336.4-107; 1992 c 565 s 79
Official Publication of the State of Minnesota
Revisor of Statutes