12 CFR 1271.7
§ 1271.7 Rights, powers, responsibilities, duties, and liabilities.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 1271.7, § 1271.7 Rights, powers, responsibilities, duties, and liabilities, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/50835
- Permanent ID
ys:prov:50835@1- SHA-256
42cf6b160653c8421c35eaad85a67b18b516d45e26b678633ecbf676c386a775
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Full text
To the extent it is not inconsistent with other provisions of this subpart, the Uniform Commercial Code governs the rights, powers, responsibilities, duties, and liabilities of Banks in the exercise of their authority under this subpart. For purposes of this paragraph, the term “bank,” as used in the Uniform Commercial Code and clearinghouse rules, includes Banks and their members and eligible institutions.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.