12 U.S.C. § 4006 | Miscellaneous provisions

(a)

After-hours deposits

For purposes of this chapter, any deposit which is made on a Saturday, Sunday, legal holiday, or after the close of business on any business day shall be deemed to have been made on the next business day.

(b)

Availability at start of business day

section 4002 of this titleExcept as provided in subsections (b)(3) and (c)(1)(B) of , if any provision of this chapter requires that funds be available for withdrawal on any business day, such funds shall be available for withdrawal at the start of such business day.

(c)

Effect on policies of depository institutions

No provision of this chapter shall be construed as—

(1)

prohibiting a depository institution from making funds available for withdrawal in a shorter period of time than the period of time required by this chapter; or

(2)

affecting a depository institution’s right—

(A)

to accept or reject a check for deposit;

(B)

to revoke any provisional settlement made by the depository institution with respect to a check accepted by such institution for deposit;

(C)

to charge back the depositor’s account for the amount of such check; or

(D)

to claim a refund of such provisional credit.

(d)

Prohibition on freezing certain funds in an account

In any case in which a check is deposited in an account at a depository institution and the funds represented by such check are not yet available for withdrawal pursuant to this chapter, the depository institution may not freeze any other funds in such account (which are otherwise available for withdrawal pursuant to this chapter) solely because the funds so deposited are not yet available for withdrawal.

(e)

Employee training on and compliance with requirements of this chapter

Each depository institution shall—

(1)

take such actions as may be necessary fully to inform each employee (who performs duties subject to the requirements of this chapter) of the requirements of this chapter; and

(2)

establish and maintain procedures reasonably designed to assure and monitor employee compliance with such requirements.

(f)

Adjustments to dollar amounts for inflation

December 31, 2011The dollar amounts under this chapter shall be adjusted every 5 years after , by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers, as published by the Bureau of Labor Statistics, rounded to the nearest multiple of $25.

Pub. L. 100–86, title VI, § 607Aug. 10, 1987101 Stat. 646 Pub. L. 111–203, title X, § 1086(f)July 21, 2010124 Stat. 2086(, , ; , , .)

Editorial Notes

References in Text

Pub. L. 100–86Aug. 10, 1987101 Stat. 635 section 4001 of this titleThis chapter, referred to in text, was in the original “this title”, meaning title VI of , , , which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Amendments

Pub. L. 111–2032010—Subsec. (f). added subsec. (f).

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Amendment

Pub. L. 111–203 section 1100H of Pub. L. 111–203 section 552a of Title 5Amendment by effective on the designated transfer date, see , set out as a note under , Government Organization and Employees.