Logourl black

Regulation CC § 229.30(c)(1)

Definition

A provision of the federal reserve Expedited Funds Availability Act, also known as Federal Reserve Board Regulation CC, that extends the Uniform Commercial Code § 4-302 midnight-deadline rule if a payor bank uses a means of delivery that would ordinarily result in receipt by the receiving bank by the bank day following the otherwise applicable deadline or if the payor bank uses a highly expeditious means of transportation.

Related Rules [?]


The related rules section is for members only and includes a compilation of all the rules of law in Quimbee's database relating to this key term.

To access the related rules, please start your free trial or log in.