§ 10.14. RECEIPT OF NEGOTIABLE PAPER FOR COLLECTION - WHEN PAYMENT IS DEEMED MADE.

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When negotiable paper is honored and paid upon presentation and the proceeds thereof deposited in the Treasury of the City and County in the usual course of business, then and not before, the obligation for which it was tendered shall be deemed paid as at the date of receipt of the negotiable paper.
(Ord. No. 2334(1939), Sec. 1)

                    
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