[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: 31CFR355.5]

[Page 350]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 355--REGULATIONS GOVERNING FISCAL AGENCY CHECKS--Table of Contents
 
Sec. 355.5  What warranties does a presenting bank make?

    (a) A presenting bank makes the warranties required of a sender 
under Subpart A of Regulation J (12 CFR part 210). This paragraph does 
not limit any warranty by a presenter or other party arising under State 
law.
    (b) We are not barred from recovering on a breach of warranty solely 
because:
    (1) Our negligence contributed to a fraudulent endorsement or 
material alteration;
    (2) We did not promptly discover an unauthorized signature or 
alteration;
    (3) An impostor fraudulently caused the issuance of a fiscal agency 
check in the name of any existing payee; or
    (4) Our employee fraudulently caused the issuance of a fiscal agency 
check in the name of any existing payee.