Page:United States Statutes at Large Volume 101 Part 1.djvu/668

 101 STAT. 638

PUBLIC LAW 100-86—AUG. 10, 1987 (B) funds are received by a depository institution by wire transfer for deposit in an account at such institution, such cash or funds shall be available for withdrawal not later than the business day after the business day on which such cash is deposited or such funds are received for deposit.

State and local

governments.

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(2) GOVERNMENT CHECKS; CERTAIN OTHER CHECKS.—Fuuds

deposited in an account at a depository institution by check shall be available for withdrawal not later than the business day after the business day on which such funds are deposited in the case of— (A) a check which— (i) is drawn on the Treasury of the United States; and ^v, (ii) is endorsed only by the person to whom it was " ' ^ issued; .., (B) a check which— (i) is drawn by a State; (ii) is deposited in a receiving depository institution which is located in such State and is staffed by individuals employed by such institution; (iii) is deposited with a special deposit slip which indicates it is a check drawn by a State; and (iv) is endorsed only by the person to whom it was issued; (C) a check which— (i) is drawn by a unit of general local government; i^ \|i;'. ^1^ -g deposited in a receiving depository institution which is located in the same State as such unit of general local government and is staffed by individuals employed by such institution; ~' (iii) is deposited with a special deposit slip which indicates it is a check drawn by a unit of general local government; and (iv) is endorsed only by the person to whom it was issued; (D) the first $100 deposited by check or checks on any one •business day; (E) a check deposited in a branch of a depository institution and drawn on the same or another branch of the same depository institution if both such branches are located in the same State or the same check processing region; '- '•' (F) a cashier's check, certified check, teller's check, or depository check which— (i) is deposited in a receiving depository institution which is staffed by individuals employed by such institution; (ii) is deposited with a special deposit slip which indicates it is a CEishier's check, certified check, teller's -. * check, or depository check, as the case may be; and (iii) is endorsed only by the person to whom it was issued. (b) PERMANENT SCHEDULE.—

(1) AVAILABILITY OF FUNDS DEPOSITED BY LOCAL CHECKS.—Subject to paragraph (3) of this subsection, subsections (a)(2), (d), and (e) of this section, and section 604, not more than 1 business day shall intervene between the business day on which funds are deposited in an account at a depository institution by a check drawn on a local originating depository institution and

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