Material defect or alteration
Material defect or alteration means:
(1) The counterfeiting of a check; or
(2) Any physical change on a check, including, but not limited to, a change in the amount, date, payee name, or other identifying information printed on the front or back of the check (but not including a forged or unauthorized drawer's signature); or
(3) Any forged or unauthorized indorsement appearing on the back of the check.
(v) Minor means the term minor as defined under applicable State law.
(w) Monthly statement means a statement prepared by Treasury which includes the following information regarding each outstanding reclamation:
(1) The reclamation date;
(2) The reclamation number;
(3) Check identifying information; and
(4) The balance due, including interest, penalties, and administrative costs.
(x) Original check means the first paper check drawn on the United States Treasury with respect to a particular payment transaction.
(y) Payee means the person that the certifying agency designated to receive payment pursuant to 31 U.S.C. 3528.
(z) Person means an individual, institution, including a financial institution, or any other type of entity; the singular includes the plural.
(aa) Presenting bank means:
(1) A financial institution which, either directly or through a correspondent banking relationship, presents checks to and receives provisional credit from a Federal Reserve Bank; or
(2) A depositary which is authorized to charge checks directly to Treasury's General Account and present them to Treasury for payment through a designated Federal Reserve Bank.