§210.8. Presenting noncash items for acceptance.
12 C.F.R. § 210.8
A Reserve Bank or a subsequent collecting bank may, if instructed by the sender, present a noncash item for acceptance in any manner authorized by law if—
The item provides that it must be presented for acceptance;
The item may be presented elsewhere than at the residence or place of business of the payor; or
The date of payment of the item depends on presentment for acceptance.
Documents accompanying a noncash item shall not be delivered to the payor upon acceptance of the item unless the sender specifically authorizes delivery. A Reserve Bank shall not have or assume any other obligation to present or to send for presentment for acceptance any noncash item.
Notes, amendments, and revision history
Amendments
[62 FR 48172, Sept. 15, 1997]
Authority
Authority: 12 U.S.C. 248(i), (j), and 248-1, 342, 360, 464, 4001-4010, and 5001-5018.
Source
Source: 45 FR 68634, Oct. 16, 1980, unless otherwise noted.
Amendments
[62 FR 48172, Sept. 15, 1997]