554.4108 Time of receipt of items. 1. 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 anafternoon hour of 2:00 p.m. or later as a cutoff hour for the handling of money and itemsand the making of entries on its books. 2. 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 bankingday. [C66, 71, 73, 75, 77, 79, 81, §554.4107]94 Acts, ch 1167, §84, 120, 122C95, §554.4108 Sat Dec 23 01:57:17 2023 Iowa Code 2024, Section 554.4108 (25, 0)
Iowa Legal Code