[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR240.18]

[Page 95]
 
                  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 
 
Sec.  240.18  Lack of authority to shift liability.

    (a) This part neither authorizes nor directs a financial institution 
to debit the account of any person or to deposit any funds from any 
account into a suspense account or escrow account or the equivalent. 
Nothing in this part shall be construed to affect a financial 
institution's contract with its depositor(s) under authority of state 
law.
    (b) A financial institution's liability under this part is not 
affected by any action taken by it to recover from any person the amount 
of the financial institution's liability to the Treasury.