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12 C.F.R. § 229.43   Checks payable in Guam, American Samoa, and the Northern Mariana Islands.

Title 12 - Banks and Banking

Title 12: Banks and Banking
PART 229—AVAILABILITY OF FUNDS AND COLLECTION OF CHECKS (REGULATION CC)
Subpart C—Collection of Checks

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§ 229.43   Checks payable in Guam, American Samoa, and the Northern Mariana Islands.

(a) Definitions. The definitions in §229.2 apply to this section, unless otherwise noted. In addition, for the purposes of this section—

(1) Pacific island bank means an office of an institution that would be a bank as defined in §229.2(e) but for the fact that the office is located in Guam, American Samoa, or the Northern Mariana Islands;

(2) Pacific island check means a demand draft drawn on or payable through or at a Pacific island bank, which is not a check as defined in §229.2(k).

(b) Rules applicable to Pacific island checks. To the extent a bank handles a Pacific island check as if it were a check defined in §229.2(k), the bank is subject to the following sections of this part (and the word “check” in each such section is construed to include a Pacific island check)—

(1) §229.31, except that the returning bank is not subject to the requirement to return a Pacific island check in an expeditious manner;

(2) §229.32;

(3) §229.34(c)(2), (c)(3), (d), (e), and (f);

(4) §229.35; for purposes of §229.35(c), the Pacific island bank is deemed to be a bank;

(5) §229.36(d);

(6) §229.37;

(7) §229.38(a) and (c) through (h);

(8) §229.39(a), (b), (c) and (e); and

(9) §§229.40 through 229.42.

[Reg. CC, 62 FR 13810, Mar. 24, 1997, as amended at 70 FR 71225, Nov. 28, 2005]

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