12 CFR 229.37
§ 229.37 Variation by agreement.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 229.37, § 229.37 Variation by agreement, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/44930
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Full text
The effect of the provisions of subpart C may be varied by agreement, except that no agreement can disclaim the responsibility of a bank for its own lack of good faith or failure to exercise ordinary care, or can limit the measure of damages for such lack or failure; but the parties may determine by agreement the standards by which such responsibility is to be measured if such standards are not manifestly unreasonable.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.