862                               LAWS OF MARYLAND                        [CH. 538

transferred in course of collection except the depositary or payor
bank;

(d)  "Collecting bank" means any bank handling the item for col-
lection except the payor bank;

(e)  "Presenting bank" means any bank presenting an item except
a payor bank;

(f)  "Remitting bank" means any payor or intermediary bank re-
mitting for an item.

4—106. Separate Office of a Bank.

A branch or separate office of a bank is a separate bank for the
purpose of computing the time within which and determining the
place at or to which action may be taken or notices or orders shall
be given under this Sub-title and under Sub-title 3.

4—107. Time of Receipt of Items.

(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
P. M. or later as a cut-off hour for the handling of money and items
and the making of entries on its books.

(2)  Any item or deposit of money received on any day after a
cut-off 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.

4—108. Delays.

(1)   Unless otherwise instructed, a collecting bank in a good faith
effort to secure payment may, in the case of specific items and with
or without the approval of any person involved, waive, modify or
extend time limits imposed or permitted by this Article for a period
not in excess of an additional banking day without discharge of
secondary parties and without liability to its transferor or any prior
party.

(2)  Delay by a collecting bank or payor bank beyond time limits
prescribed or permitted by this Article, or by instructions is excused
if caused by interruption of communication facilities, suspension of
payments by another bank, war, emergency conditions or other cir-
cumstances beyond the control of the bank provided it exercises such
diligence as the circumstances require.

4—109. Process of Posting.

The "Process of Posting" means the usual procedure followed by
a payor bank in determining to pay an item and in recording the
payment including one or more of the following or other steps as
determined by the bank:

(a)  verification of any signature;

(b)  ascertaining that sufficient funds are available;

(c) affixing a "paid" or other stamp;

(d)  entering a charge or entry to a customer's account;