[Code of Federal Regulations]

[Title 12, Volume 3]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR229.37]



[Page 564]

 

                       TITLE 12--BANKS AND BANKING

 

                   CHAPTER II--FEDERAL RESERVE SYSTEM

 

PART 229_AVAILABILITY OF FUNDS AND COLLECTION OF CHECKS (REGULATION CC)

--Table of Contents

 

                     Subpart C_Collection of Checks

 

Sec. 229.37  Variation by agreement.



    The effect of the provisions of subpart C may be varied by 

agreement, except that no agreement can disclaim the responsibility of a 

bank for its own lack of good faith or failure to exercise ordinary 

care, or can limit the measure of damages for such lack or failure; but 

the parties may determine by agreement the standards by which such 

responsibility is to be measured if such standards are not manifestly 

unreasonable.