§ 210.8. Presenting noncash items for acceptance.
124 words·~1 min read·
/us/cfr/t12/s§ 210.8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)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—
(1)The item provides that it must be presented for acceptance;
(2)The item may be presented elsewhere than at the residence or place of business of the payor; or
(3)The date of payment of the item depends on presentment for acceptance.
(b)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. [62 FR 48172, Sept. 15, 1997]