Trade Date delat to funds deposited

[mikehammer]

If my broker makes a trade at noon on the 21st of a month, and the settlement date is the 25th with the 23rd and 24th being a weekend, with no intervening holidays;

Is it legal that the funds would not be deposited until after COB on the 26th of that month?

 

[Zigner]

What US state?
What do the terms of your account say with regard to this matter?