12 CFR 210.15
§ 210.15 Direct presentment of certain warrants.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 210.15, § 210.15 Direct presentment of certain warrants, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/44221
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Full text
If a Reserve Bank elects to present direct to the payor a bill, note, or warrant that is issued and payable by a State or a political subdivision and that is a cash item not payable or collectible through a bank:
(a) Sections 210.9, 210.12, and 210.13 and the operating circulars of the Reserve Banks apply to the payor as if it were a paying bank;
(b) § 210.14 applies to the payor as if it were a bank; and (c) under § 210.9 each day on which the payor is open for the regular conduct of its affairs or the accommodation of the public is considered a banking day.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.