12 CFR 229.43 - Checks payable in Guam, American Samoa, and the Northern Mariana Islands.
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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;
[Reg. CC, 62 FR 13810, Mar. 24, 1997, as amended at 70 FR 71225, Nov. 28, 2005]
Title 12 published on 2012-01-01
no entries appear in the Federal Register after this date.
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