[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR240.5]

[Page 83]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 240--INDORSEMENT AND PAYMENT OF CHECKS DRAWN ON THE UNITED STATES TREASURY--Table of Contents
 
Sec. 240.5  Guaranty of indorsements.

    The presenting bank and the indorsers of a check presented to the 
Treasury for payment are deemed to guarantee to the Treasury that all 
prior indorsements are genuine, whether or not an express guaranty is 
placed on the check. When the first indorsement has been made by one 
other than the payee personally, the presenting bank and the indorsers 
are deemed to guarantee the Treasury, in addition to other warranties, 
that the person who so indorsed had unqualified capacity and authority 
to indorse the check on behalf of the payee.