Tenn. Code Ann. § 47-4-108

Time of receipt of items

Known as the Uniform Commercial Code

The act spans §§ 47–47 (578 sections).

Acts 1963, ch. 81, § 1 (4-107); T.C.A. § 47-4-107; Acts 1995, ch. 397, § 3.

(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 an afternoon hour of two o'clock (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.

(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 banking day.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.