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(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 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.
Cite this article: FindLaw.com - Alabama Code Title 7. Commercial Code § 7-4-108 - last updated January 01, 2019 | https://codes.findlaw.com/al/title-7-commercial-code/al-code-sect-7-4-108.html
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