Nevada Revised Statutes 104.4108 – Time of receipt of items
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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 2 p.m. or later as a cutoff hour for the handling of money and items and the making of entries on its books.
Terms Used In Nevada Revised Statutes 104.4108
- Afternoon: means the period of a day between noon and midnight. See Nevada Revised Statutes 104.4104
- Banking day: means that part of any day on which a bank is open to the public for carrying on substantially all of its banking functions. See Nevada Revised Statutes 104.4104
- Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Nevada Revised Statutes 104.4104
2. Any 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.