If First Bank receives a check for collection on Friday at 4 p.m. ,it must present the check to the payor bank by midnight Saturday.

Question

Quizplus · Accepted Answer

According to the Uniform Commercial Code (UCC), First Bank must present the check for collection by the end of the next banking day after it receives the check. If First Bank received the check on Friday at 4 p.m., the next banking day would be Monday, not Saturday.

If First Bank Receives a Check for Collection on Friday