(810 ILCS 5/4-108) (from Ch. 26, par. 4-108)
Sec. 4-108.
Time of receipt of items.
(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.
(Source: P.A. 87-582; 87-1135.)
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