12 CFR 975.7 - Rights, powers, responsibilities, duties, and liabilities.

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Title 12: Banks and Banking

CHAPTER IX: FEDERAL HOUSING FINANCE BOARD

SUBCHAPTER I: MISCELLANEOUS FEDERAL HOME LOAN BANK OPERATIONS AND AUTHORITIES

PART 975: COLLECTION, SETTLEMENT, AND PROCESSING OF PAYMENT INSTRUMENTS

975.7 - Rights, powers, responsibilities, duties, and liabilities.To the extent it is not inconsistent with other provisions of this part, the Uniform Commercial Code governs the rights, powers, responsibilities, duties, and liabilities of Banks in the exercise of their authority under this part. 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.

[45 FR 64164, Sept. 5, 1989, as amended at 65 FR 8266, Feb. 18, 2000]

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