31 CFR 355.5 - What warranties does a presenting bank make?

§ 355.5 What warranties does a presenting bank make?
(a) A presenting bank makes the warranties required of a sender under subpart A of regulation J (12 CFR part 210). This paragraph does not limit any warranty by a presenter or other party arising under State law.
(b) We are not barred from recovering on a breach of warranty solely because:
(1) Our negligence contributed to a fraudulent endorsement or material alteration;
(2) We did not promptly discover an unauthorized signature or alteration;
(3) An impostor fraudulently caused the issuance of a fiscal agency check in the name of any existing payee; or
(4) Our employee fraudulently caused the issuance of a fiscal agency check in the name of any existing payee.

Title 31 published on 2014-07-01

no entries appear in the Federal Register after this date.