Sec. 602. DEFINITIONS
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## SEC. 602 DEFINITIONS **[**[12 U.S.C. 4001](/us/usc/t12/s4001)**]** For purposes of this title— ####
(1)Account The term “**account**” means a demand deposit account or other similar transaction account at a depository institution. ####
(2)Board The term “**Board**” means the Board of Governors of the Federal Reserve System. ####
(3)Business day The term “**business day**” means any day other than a Saturday, Sunday, or legal holiday. ####
(4)Cash The term “**cash**” means United States coins and currency, including Federal Reserve notes. ####
(5)Cashier's check The term “**cashier's check**” means any check which— #####
(A)is drawn on a depository institution; #####
(B)is signed by an officer or employee of such depository institution; and #####
(C)is a direct obligation of such depository institution. ####
(6)Certified check The term “**certified check**” means any check with respect to which a depository institution certifies that— #####
(A)the signature on the check is genuine; and #####
(B)such depository institution has set aside funds which— ######
(i)are equal to the amount of the check; and ######
(ii)will be used only to pay such check. ####
(7)Check The term “**check**” means any negotiable demand draft drawn on or payable through an office of a depository institution located in the United States. Such term does not include noncash items. ####
(8)Check clearinghouse association 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. ####
(9)Check processing region 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. ####
(10)Consumer account The term “**consumer account**” means any account used primarily for personal, family, or household purposes. ####
(11)Depository check 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. ####
(12)Depository institution The term “**depository institution**” has the meaning given such term in clauses
(i)through
(vi)of section 19(b)(1)(A) of the Federal Reserve Act. Such term also includes an office, branch, or agency of a foreign bank located in the United States. ####
(13)Local originating depository institution 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. ####
(14)Noncash item The term “**noncash item**” means— #####
(A)a check or other demand item to which a passbook, certificate, or other document is attached; #####
(B)a check or other demand item which is accompanied by special instructions, such as a request for special advise of payment or dishonor; or #####
(C)any similar item which is otherwise classified as a noncash item in regulations of the Board. ####
(15)Nonlocal originating depository institution The term “**nonlocal originating depository institution**” means any originating depository institution which is not a local depository institution. ####
(16)Proprietary atm The term “**proprietary ATM**” means an automated teller machine which is— #####
(A)located— ######
(i)at or adjacent to a branch of the receiving depository institution; or ######
(ii)in close proximity, as defined by the Board, to a branch of the receiving depository institution; or #####
(B)owned by, operated exclusively for, or operated by the receiving depository institution. ####
(17)Originating depository institution The term “**originating depository institution**” means the branch of a depository institution on which a check is drawn. ####
(18)Nonproprietary atm The term “**nonproprietary ATM**” means an automated teller machine which is not a proprietary ATM. ####
(19)Participant The term “**participant**” means a depository institution which— #####
(A)is located in the same geographic area as that served by a check clearinghouse association; and #####
(B)exchanges checks through the check clearinghouse association, either directly or through an intermediary. ####
(20)Receiving depository institution The term “**receiving depository institution**” means the branch of a depository institution or the proprietary ATM, located in the United States, in which a check is first deposited. ####
(21)State The term “**State**” means any State, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, or the Virgin Islands. ####
(22)Teller's check The term “**teller's check**” means any check issued by a depository institution and drawn on another depository institution. ####
(23)United states The term “**United States**” means the several States, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, and the Virgin Islands. ####
(24)Unit of general local government The term “**unit of general local government**” means any city, county, town, township, parish, village, or other general purpose political subdivision of a State. ####
(25)Wire transfer The term “**wire transfer**” has such meaning as the Board shall prescribe by regulations.
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