Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 4. · Article 4. BANK DEPOSITS AND COLLECTIONS · Part 1. GENERAL PROVISIONS AND DEFINITIONS

11-4-108. Time of receipt of items.

Active

Current through: Including Acts of the 2025 Regular Session of the 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 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.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1933, § 109A-4-107, enacted by Ga. L. 1962, p. 156, § 1; Code 1981, § 11-4-108, as redesignated by Ga. L. 1996, p. 1306, § 5.

Editor's notes

Ga. L. 1996, p. 1306, § 5, effective July 1, 1996, renumbered former Code Section 11-4-107 as present Code Section 11-4-108 and renumbered former Code Section 11-4-108 as present Code Section 11-4-109.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, pages 490 to 491; merge action: carried; file SHA-256 ad397fccbf21.

Ask about this section

The answer is drawn from this section and, when they fit, the other sections of its chapter. It quotes the text and names the section for each claim. Not legal advice.