[TheBank]

In Reg CC 229.10(c)(1)(iv) it mentions the availability of a check drawn by a state or a unit of general local government. Would a check from a county clerk and master of the county Chancery Court be included in this category? (payee and account holder are the same person)

[rcooper]

Yes, I think these the county clerk and chancery court would be considered state/local government and the rule would apply if the conditions below are met.

(iv) A check drawn by a state or a unit of general local government and deposited–

(A) In an account held by a payee of the check;

(B) In a depositary bank located in the state that issued the check, or the same state as the unit of general local government that issued the check;

(C) In person to an employee of the depositary bank; and

(D) With a special deposit slip or deposit envelope, if such slip or envelope is required by the depositary bank under paragraph (c)(3) of this section.

[Author]

Posts