Presenting items for payment.

CFR · 2024-01-01 · US · Title 12

(a) (1) A Reserve Bank or a subsequent collecting bank may present an item for payment or send the item for presentment and payment; and (2) A Reserve Bank may send an item to a subsequent collecting bank with authority to present it for payment or to send it for presentment and payment. (b) (1) At a place requested by the paying bank; (2) In accordance with § 229.36 of this chapter (Regulation CC); (3) At a place requested by the nonbank payor, if the item is payable by a nonbank payor other than through or at a paying bank; (4) Under a special collection agreement consistent with this subpart; or (5) Through a clearinghouse and subject to its rules and practices. (c) (1) Present or send the item direct to the paying bank, or to a place requested by the paying bank; or (2) If the item is payable by a nonbank payor other than through a paying bank, present it direct to the nonbank payor. Documents, securities, or other papers accompanying a noncash item shall not be delivered to (d)

official document · source cfr-2024 · id 12:§ 210.7