12 U.S. Code § 4001 - Definitions
The term “business day” means any day other than a Saturday, Sunday, or legal holiday.
The term “check clearinghouse association” means any arrangement by which participant depository institutions exchange deposited checks on a local basis, including an entire metropolitan area, without using the check processing facilities of the Federal Reserve System.
The term “check processing region” means the geographical area served by a Federal Reserve bank check processing center or such larger area as the Board may prescribe by regulations.
The term “consumer account” means any account used primarily for personal, family, or household purposes.
The term “depository check” means any cashier’s check, certified check, teller’s check, and any other functionally equivalent instrument as determined by the Board.
The term “local originating depository institution” means any originating depository institution which is located in the same check processing region as the receiving depository institution.
The term “nonlocal originating depository institution” means any originating depository institution which is not a local depository institution.
The term “originating depository institution” means the branch of a depository institution on which a check is drawn.
The term “nonproprietary ATM” means an automated teller machine which is not a proprietary ATM.
The term “receiving depository institution” means the branch of a depository institution or the proprietary ATM in which a check is first deposited.
The term “United States” means the several States, the District of Columbia, the Commonwealth of Puerto Rico, and the Virgin Islands.
The term “unit of general local government” means any city, county, town, township, parish, village, or other general purpose political subdivision of a State.
The term “wire transfer” has such meaning as the Board shall prescribe by regulations.
This chapter, referred to in text, was in the original “this title”, meaning title VI of Pub. L. 100–86, Aug. 10, 1987, 101 Stat. 635, known as the Expedited Funds Availability Act, which enacted this chapter, amended section 248a of this title, and enacted provisions set out as notes under sections 248a and 4001 of this title. For complete classification of this Act to the Code, see Short Title note below and Tables.
If any provision of Pub. L. 100–86 or the application thereof to any person or circumstances is held invalid, the remainder of Pub. L. 100–86 and the application of the provision to other persons not similarly situated or to other circumstances not to be affected thereby, see section 1205 of Pub. L. 100–86, set out as a note under section 226 of this title.
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