N.Y. Uniform Commercial Code Law § 4-107: Time of Receipt of Items

Section 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.