§ 4006. Miscellaneous provisions
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/usc/title-12/section-4006A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)After-hours deposits For purposes of this chapter, any deposit which is made on a Saturday, Sunday, legal holiday, or after the close of business on any business day shall be deemed to have been made on the next business day.
(b)Availability at start of business day Except as provided in subsections (b)(3) and (c)(1)(B) of section 4002 of this title, if any provision of this chapter requires that funds be available for withdrawal on any business day, such funds shall be available for withdrawal at the start of such business day.
(c)Effect on policies of depository institutions No provision of this chapter shall be construed as—
(1)prohibiting a depository institution from making funds available for withdrawal in a shorter period of time than the period of time required by this chapter; or
(2)affecting a depository institution’s right—
(A)to accept or reject a check for deposit;
(B)to revoke any provisional settlement made by the depository institution with respect to a check accepted by such institution for deposit;
(C)to charge back the depositor’s account for the amount of such check; or
(D)to claim a refund of such provisional credit.
(d)Prohibition on freezing certain funds in an account In any case in which a check is deposited in an account at a depository institution and the funds represented by such check are not yet available for withdrawal pursuant to this chapter, the depository institution may not freeze any other funds in such account (which are otherwise available for withdrawal pursuant to this chapter) solely because the funds so deposited are not yet available for withdrawal.
(e)Employee training on and compliance with requirements of this chapter Each depository institution shall—
(1)take such actions as may be necessary fully to inform each employee (who performs duties subject to the requirements of this chapter) of the requirements of this chapter; and
(2)establish and maintain procedures reasonably designed to assure and monitor employee compliance with such requirements.
(f)Adjustments to dollar amounts for inflation The dollar amounts under this chapter shall be adjusted every 5 years after December 31, 2011, by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers, as published by the Bureau of Labor Statistics, rounded to the nearest multiple of $25.
(Pub. L. 100–86, title VI, § 607, Aug. 10, 1987, 101 Stat. 646; Pub. L. 111–203, title X, § 1086(f), July 21, 2010, 124 Stat. 2086.)
Connections13 cite this · traces to 3
Cited by 13 sections · top 12
register
statute-compilations
statutes-at-large
- Public Law 100–86To regulate nonbank banks, impose a moratorium on certain securities and insurance activities by banks, recapitalize the Federal Savings and Loan Insurance Corporation, allow emergency interstate bank acquisitions, streamline credit union operations, regulate consumer checkholds, and for other purpo
- Public Law 111–203To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes
bill
- Sec. 2Requirement that funds deposited be available for withdrawal in real time
- Sec. 4Requirement that funds deposited be available for withdrawal in real-time
- Sec. 4Requirement that funds deposited be available for withdrawal in real-time
- Sec. 4Requirement that funds deposited be available for withdrawal in real-time
- Sec. 4Requirement that funds deposited be available for withdrawal in real-time
Traces to 3 documents
8 references not yet in our index
- Pub. L. 100–86, title VI, § 607
- 101 Stat. 646
- Pub. L. 111–203, title X, § 1086(f)
- 124 Stat. 2086
- Pub. L. 100–86
- 101 Stat. 635
- Pub. L. 111–203
- section 1100H of Pub. L. 111–203
Citation graph
cites case law
§ 4006
Miscellaneous provisions
Bills×5
Fed. Reg.×5
Stat.×2
Stat. Comp.×1
Pub. L.Pub. L. 100–86, title VI, § 607
Stat.101 Stat. 646
Pub. L.Pub. L. 111–203, title X, § 1086(f)
Stat.124 Stat. 2086
Pub. L.Pub. L. 100–86
Cites 11 · showing 8Cited by 13 across 4 sources