{"identifier":"/us/usc/t12/s4001","title":12,"num":"\u00a7\u202f4001.","heading":"Definitions","text":"\u00a7\u202f4001.\nDefinitions\nFor purposes of this chapter\u2014\n(1)\nAccount\nThe term \u201caccount\u201d means a demand deposit account or other similar transaction account at a depository institution.\n(2)\nBoard\nThe term \u201cBoard\u201d means the Board of Governors of the Federal Reserve System.\n(3)\nBusiness day\nThe term \u201cbusiness day\u201d means any day other than a Saturday, Sunday, or legal holiday.\n(4)\nCash\nThe term \u201ccash\u201d means United States coins and currency, including Federal Reserve notes.\n(5)\nCashier\u2019s check\nThe term \u201ccashier\u2019s check\u201d means any check which\u2014\n(A) is drawn on a depository institution;\n(B) is signed by an officer or employee of such depository institution; and\n(C) is a direct obligation of such depository institution.\n(6)\nCertified check\nThe term \u201ccertified check\u201d means any check with respect to which a depository institution certifies that\u2014\n(A) the signature on the check is genuine; and\n(B) such depository institution has set aside funds which\u2014\n(i) are equal to the amount of the check; and\n(ii) will be used only to pay such check.\n(7)\nCheck\nThe term \u201ccheck\u201d means any negotiable demand draft drawn on or payable through an office of a depository institution located in the United States. Such term does not include noncash items.\n(8)\nCheck clearinghouse association\nThe term \u201ccheck clearinghouse association\u201d means any arrangement by which participant depository institutions exchange deposited checks on a local basis, including an entire metropolitan area, without using the check processing facilities of the Federal Reserve System.\n(9)\nCheck processing region\nThe term \u201ccheck processing region\u201d means the geographical area served by a Federal Reserve bank check processing center or such larger area as the Board may prescribe by regulations.\n(10)\nConsumer account\nThe term \u201cconsumer account\u201d means any account used primarily for personal, family, or household purposes.\n(11)\nDepository check\nThe term \u201cdepository check\u201d means any cashier\u2019s check, certified check, teller\u2019s check, and any other functionally equivalent instrument as determined by the Board.\n(12)\nDepository institution\nThe term \u201cdepository institution\u201d has the meaning given such term in clauses (i) through (vi) of\nsection 461(b)(1)(A) of this title\n(13)\nLocal originating depository institution\nThe term \u201clocal originating depository institution\u201d means any originating depository institution which is located in the same check processing region as the receiving depository institution.\n(14)\nNoncash item\nThe term \u201cnoncash item\u201d means\u2014\n(A) a check or other demand item to which a passbook, certificate, or other document is attached;\n(B) a check or other demand item which is accompanied by special instructions, such as a request for special advise of payment or dishonor; or\n(C) any similar item which is otherwise classified as a noncash item in regulations of the Board.\n(15)\nNonlocal originating depository institution\nThe term \u201cnonlocal originating depository institution\u201d means any originating depository institution which is not a local depository institution.\n(16)\nProprietary ATM\nThe term \u201cproprietary ATM\u201d means an automated teller machine which is\u2014\n(A) located\u2014\n(i) at or adjacent to a branch of the receiving depository institution; or\n(ii) in close proximity, as defined by the Board, to a branch of the receiving depository institution; or\n(B) owned by, operated exclusively for, or operated by the receiving depository institution.\n(17)\nOriginating depository institution\nThe term \u201coriginating depository institution\u201d means the branch of a depository institution on which a check is drawn.\n(18)\nNonproprietary ATM\nThe term \u201cnonproprietary ATM\u201d means an automated teller machine which is not a proprietary ATM.\n(19)\nParticipant\nThe term \u201cparticipant\u201d means a depository institution which\u2014\n(A) is located in the same geographic area as that served by a check clearinghouse association; and\n(B) exchanges checks through the check clearinghouse association, either directly or through an intermediary.\n(20)\nReceiving depository institution\nThe term \u201creceiving depository institution\u201d means the branch of a depository institution or the proprietary ATM, located in the United States, in which a check is first deposited.\n(21)\nState\nThe term \u201cState\u201d means any State, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, or the Virgin Islands.\n(22)\nTeller\u2019s check\nThe term \u201cteller\u2019s check\u201d means any check issued by a depository institution and drawn on another depository institution.\n(23)\nUnited States\nThe term \u201cUnited States\u201d means the several States, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, and the Virgin Islands.\n(24)\nUnit of general local government\nThe term \u201cunit of general local government\u201d means any city, county, town, township, parish, village, or other general purpose political subdivision of a State.\n(25)\nWire transfer\nThe term \u201cwire transfer\u201d has such meaning as the Board shall prescribe by regulations.","url":"https://projectusc.org/usc/t12/s4001.html","content":[{"t":"sec","id":"/us/usc/t12/s4001","children":[{"t":"num","text":"\u00a7\u202f4001."},{"t":"heading","text":"Definitions","tail":"\n"},{"t":"chapeau","text":"For purposes of this chapter\u2014"},{"t":"para","id":"/us/usc/t12/s4001/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Account"},{"t":"content","children":[{"t":"p","text":"The term \u201caccount\u201d means a demand deposit account or other similar transaction account at a depository institution.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Board"},{"t":"content","children":[{"t":"p","text":"The term \u201cBoard\u201d means the Board of Governors of the Federal Reserve System.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Business day"},{"t":"content","children":[{"t":"p","text":"The term \u201cbusiness day\u201d means any day other than a Saturday, Sunday, or legal holiday.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/4","children":[{"t":"num","text":"(4)"},{"t":"heading","text":"Cash"},{"t":"content","children":[{"t":"p","text":"The term \u201ccash\u201d means United States coins and currency, including Federal Reserve notes.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/5","children":[{"t":"num","text":"(5)"},{"t":"heading","text":"Cashier\u2019s check"},{"t":"chapeau","text":"The term \u201ccashier\u2019s check\u201d means any check which\u2014"},{"t":"subpara","id":"/us/usc/t12/s4001/5/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" is drawn on a depository institution;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s4001/5/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" is signed by an officer or employee of such depository institution; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s4001/5/C","children":[{"t":"num","text":"(C)"},{"t":"content","text":" is a direct obligation of such depository institution.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/6","children":[{"t":"num","text":"(6)"},{"t":"heading","text":"Certified check"},{"t":"chapeau","text":"The term \u201ccertified check\u201d means any check with respect to which a depository institution certifies that\u2014"},{"t":"subpara","id":"/us/usc/t12/s4001/6/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" the signature on the check is genuine; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s4001/6/B","children":[{"t":"num","text":"(B)"},{"t":"chapeau","text":" such depository institution has set aside funds which\u2014"},{"t":"clause","id":"/us/usc/t12/s4001/6/B/i","children":[{"t":"num","text":"(i)"},{"t":"content","text":" are equal to the amount of the check; and","tail":"\n"}],"tail":"\n"},{"t":"clause","id":"/us/usc/t12/s4001/6/B/ii","children":[{"t":"num","text":"(ii)"},{"t":"content","text":" will be used only to pay such check.","tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/7","children":[{"t":"num","text":"(7)"},{"t":"heading","text":"Check"},{"t":"content","children":[{"t":"p","text":"The term \u201ccheck\u201d means any negotiable demand draft drawn on or payable through an office of a depository institution located in the United States. Such term does not include noncash items.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/8","children":[{"t":"num","text":"(8)"},{"t":"heading","text":"Check clearinghouse association"},{"t":"content","children":[{"t":"p","text":"The term \u201ccheck clearinghouse association\u201d means any arrangement by which participant depository institutions exchange deposited checks on a local basis, including an entire metropolitan area, without using the check processing facilities of the Federal Reserve System.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/9","children":[{"t":"num","text":"(9)"},{"t":"heading","text":"Check processing region"},{"t":"content","children":[{"t":"p","text":"The term \u201ccheck processing region\u201d means the geographical area served by a Federal Reserve bank check processing center or such larger area as the Board may prescribe by regulations.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/10","children":[{"t":"num","text":"(10)"},{"t":"heading","text":"Consumer account"},{"t":"content","children":[{"t":"p","text":"The term \u201cconsumer account\u201d means any account used primarily for personal, family, or household purposes.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/11","children":[{"t":"num","text":"(11)"},{"t":"heading","text":"Depository check"},{"t":"content","children":[{"t":"p","text":"The term \u201cdepository check\u201d means any cashier\u2019s check, certified check, teller\u2019s check, and any other functionally equivalent instrument as determined by the Board.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/12","children":[{"t":"num","text":"(12)"},{"t":"heading","text":"Depository institution"},{"t":"content","children":[{"t":"p","text":"The term \u201cdepository institution\u201d has the meaning given such term in clauses (i) through (vi) of ","children":[{"t":"ref","text":"section 461(b)(1)(A) of this title","href":"/us/usc/t12/s461/b/1/A","tail":". Such term also includes an office, branch, or agency of a foreign bank located in the United States."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/13","children":[{"t":"num","text":"(13)"},{"t":"heading","text":"Local originating depository institution"},{"t":"content","children":[{"t":"p","text":"The term \u201clocal originating depository institution\u201d means any originating depository institution which is located in the same check processing region as the receiving depository institution.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/14","children":[{"t":"num","text":"(14)"},{"t":"heading","text":"Noncash item"},{"t":"chapeau","text":"The term \u201cnoncash item\u201d means\u2014"},{"t":"subpara","id":"/us/usc/t12/s4001/14/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" a check or other demand item to which a passbook, certificate, or other document is attached;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s4001/14/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" a check or other demand item which is accompanied by special instructions, such as a request for special advise of payment or dishonor; or","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s4001/14/C","children":[{"t":"num","text":"(C)"},{"t":"content","text":" any similar item which is otherwise classified as a noncash item in regulations of the Board.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/15","children":[{"t":"num","text":"(15)"},{"t":"heading","text":"Nonlocal originating depository institution"},{"t":"content","children":[{"t":"p","text":"The term \u201cnonlocal originating depository institution\u201d means any originating depository institution which is not a local depository institution.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/16","children":[{"t":"num","text":"(16)"},{"t":"heading","text":"Proprietary ATM"},{"t":"chapeau","text":"The term \u201cproprietary ATM\u201d means an automated teller machine which is\u2014"},{"t":"subpara","id":"/us/usc/t12/s4001/16/A","children":[{"t":"num","text":"(A)"},{"t":"chapeau","text":" located\u2014"},{"t":"clause","id":"/us/usc/t12/s4001/16/A/i","children":[{"t":"num","text":"(i)"},{"t":"content","text":" at or adjacent to a branch of the receiving depository institution; or","tail":"\n"}],"tail":"\n"},{"t":"clause","id":"/us/usc/t12/s4001/16/A/ii","children":[{"t":"num","text":"(ii)"},{"t":"content","text":" in close proximity, as defined by the Board, to a branch of the receiving depository institution; or","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s4001/16/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" owned by, operated exclusively for, or operated by the receiving depository institution.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/17","children":[{"t":"num","text":"(17)"},{"t":"heading","text":"Originating depository institution"},{"t":"content","children":[{"t":"p","text":"The term \u201coriginating depository institution\u201d means the branch of a depository institution on which a check is drawn.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/18","children":[{"t":"num","text":"(18)"},{"t":"heading","text":"Nonproprietary ATM"},{"t":"content","children":[{"t":"p","text":"The term \u201cnonproprietary ATM\u201d means an automated teller machine which is not a proprietary ATM.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/19","children":[{"t":"num","text":"(19)"},{"t":"heading","text":"Participant"},{"t":"chapeau","text":"The term \u201cparticipant\u201d means a depository institution which\u2014"},{"t":"subpara","id":"/us/usc/t12/s4001/19/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" is located in the same geographic area as that served by a check clearinghouse association; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s4001/19/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" exchanges checks through the check clearinghouse association, either directly or through an intermediary.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/20","children":[{"t":"num","text":"(20)"},{"t":"heading","text":"Receiving depository institution"},{"t":"content","children":[{"t":"p","text":"The term \u201creceiving depository institution\u201d means the branch of a depository institution or the proprietary ATM, located in the United States, in which a check is first deposited.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/21","children":[{"t":"num","text":"(21)"},{"t":"heading","text":"State"},{"t":"content","children":[{"t":"p","text":"The term \u201cState\u201d means any State, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, or the Virgin Islands.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/22","children":[{"t":"num","text":"(22)"},{"t":"heading","text":"Teller\u2019s check"},{"t":"content","children":[{"t":"p","text":"The term \u201cteller\u2019s check\u201d means any check issued by a depository institution and drawn on another depository institution.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/23","children":[{"t":"num","text":"(23)"},{"t":"heading","text":"United States"},{"t":"content","children":[{"t":"p","text":"The term \u201cUnited States\u201d means the several States, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, and the Virgin Islands.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/24","children":[{"t":"num","text":"(24)"},{"t":"heading","text":"Unit of general local government"},{"t":"content","children":[{"t":"p","text":"The term \u201cunit of general local government\u201d means any city, county, town, township, parish, village, or other general purpose political subdivision of a State.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4001/25","children":[{"t":"num","text":"(25)"},{"t":"heading","text":"Wire transfer"},{"t":"content","children":[{"t":"p","text":"The term \u201cwire transfer\u201d has such meaning as the Board shall prescribe by regulations.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}