O.C.G.A.
O.C.G.A.

O.C.G.A. § 11-4-108 (2019)

Time of receipt of items

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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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 2:00 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.

History

Code 1933, § 109A-4-107, enacted by Ga. L. 1962, p. 156, § 1; Code 1981, § 114-108, as redesignated by Ga. L. 1996, p. 1306, § 5.

Annotations

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 114-108 as present Code Section 11-4-109.

RESEARCH REFERENCES Am. Jur. 2d. 11 Am. Jur. 2d, Banks and Financial Institutions, §§ 699, 987, 988. C.J.S. 9 C.J.S., Banks and Banking, §§ 273, 274, 383.

U.L.A. Uniform Commercial Code (U.L.A.) § 4108.

Notes of Decisions
Cited in 1 case, 1985–1985 · leading case: Bd. of Zoning Adjustment v. Fulton Fed. Sav. & Loan Ass'n, 338 S.E.2d 730 (Ga. Ct. App. 1985).
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Bd. of Zoning Adjustment v. Fulton Fed. Sav. & Loan Ass'n, 338 S.E.2d 730 (Ga. Ct. App. 1985). · cites it 2× “on as to presentment of commercial paper “at a bank during its banking day” (OCGA § 11-3-503 (4)); acceptance without dishonor of commercial paper “until the close of the next business day following presentment” (OCGA § 11-3-506 (1)); delay in presentment of notice of dishonor…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.