2017 Maryland Code
Commercial Law
Title 4 - Bank Deposits and Collections
Subtitle 1 - General Provisions and Definitions
§ 4-108. Time of receipt of items

Universal Citation: MD Comm L Code § 4-108 (2017)
  • (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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