[Code of Federal Regulations]
[Title 12, Volume 2]
[Revised as of January 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR210.7]

[Page 289-290]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 210_COLLECTION OF CHECKS AND OTHER ITEMS BY FEDERAL RESERVE BANKS 
AND FUNDS TRANSFERS THROUGH FEDWIRE (REGULATION J)--Table of Contents
 
 Subpart A_Collection of Checks and Other Items By Federal Reserve Banks
 
Sec. 210.7  Presenting items for payment.

    (a) Presenting or sending. As provided under State law or as 
otherwise permitted by this section: (1) a Reserve Bank or a subsequent 
collecting bank may present an item for payment or send the item for 
presentment and payment; and
    (2) A Reserve Bank may send an item to a subsequent collecting bank 
with authority to present it for payment or to send it for presentment 
and payment.
    (b) Place of presentment. A Reserve Bank or subsequent collecting 
bank may present an item--
    (1) At a place requested by the paying bank;
    (2) In the case of a check as defined in 12 CFR 229.2(k), in 
accordance with 12 CFR 229.36;
    (3) At a place requested by the nonbank payor, if the item is 
payable by a nonbank payor other than through or at a paying bank;
    (4) Under a special collection agreement consistent with this 
subpart; or
    (5) Through a clearinghouse and subject to its rules and practices.
    (c) Presenting or sending direct. A Reserve Bank or subsequent 
collecting bank may, with respect to an item that may be sent to the 
paying bank or nonbank payor in the Reserve Bank's District--
    (1) Present or send the item direct to the paying bank, or to a 
place requested by the paying bank; or
    (2) If the item is payable by a nonbank payor other than through a 
paying bank, present it direct to the nonbank payor. Documents, 
securities, or other papers accompanying a noncash item shall not be 
delivered to the nonbank payor before the item is paid unless the sender 
specifically authorizes delivery.

[[Page 290]]

    (d) Item sent to another district. A Reserve Bank receiving an item 
that may be sent to a paying bank or nonbank payor in another District 
ordinarily sends the item to the Reserve Bank of the other District, but 
with the agreement of the other Reserve Bank, may present or send the 
item as if it were sent to a paying bank or nonbank payor in its own 
District.

[45 FR 68634, Oct. 16, 1980, as amended at 53 FR 21985, June 13, 1988; 
62 FR 48172, Sept. 15, 1997]