Ohio Rev. Code Ann. § 1304.06 – Time of receipt of items - UCC 4-108 | Midpage
§ 1304.06
Ohio Rev. Code Ann. § 1304.06
Time of receipt of items - UCC 4-108
Effective Aug 19, 1994Senate Bill 147 - 120th General Assembly
(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 cut-off 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 cut-off 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.