GroundRules
31 CFR 355.6: What happens if the presenting bank breaches its warranty?
Where this section sits in the code
- Title 31—Money and Finance: Treasury
- Subtitle B—Regulations Relating to Money and Finance
- CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY
- SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE
- PART 355—REGULATIONS GOVERNING FISCAL AGENCY CHECKS
If the presenting bank breaches its warranty, the payor Reserve Bank may either return the check to the presenting bank or send notice of the breach to the presenting bank. If the presenting bank does not make prompt restitution when it receives the returned check or notice of breach, we may begin appropriate collection procedures.
Collected 2026-08-27T02:25:25Z. Source file · JSON