[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: 31CFR355.6]

[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. 355.6  What happens if the presenting bank breaches its warranty?

    If the presenting bank breaches its warranty, the payor Reserve Bank 
may either return the check to the presenting bank or send notice of the 
breach to the presenting bank. If the presenting bank does not make 
prompt restitution when it receives the returned check or notice of 
breach, we may begin appropriate collection procedures.