190
LAWS OF MARYLAND
[Ch. 49
taken or notices or orders shall be given under this
[subtitle] TITLE and under [subtitle] 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 TITLES 1 THROUGH 10 OF 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 TITLES 1 THROUGH
10 OF 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 circumstances 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;
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