Page:United States Statutes at Large Volume 101 Part 1.djvu/676

 101 STAT. 646

PUBLIC LAW 100-86—AUG. 10, 1987

•' ^ Federal Register, publication.

12 USC 4005.

12 USC 461.

(B) uses any such model form or clause and changes such form or clause by— (i) deleting any information which is not required by this title; or (ii) rearranging the format. (3) VOLUNTARY USE.—Nothing in this title requires the use of any such model form or clause prescribed by the Board under this subsection. (4) NOTICE AND COMMENT.—Model disclosure forms and clauses shall be adopted by the Board only after notice duly given in the Federal Register and an opportunity for public comment in accordance with section 553 of title 5, United States Code.

SEC. 606. PAYMENT OF INTEREST.

(a) IN GENERAL.—Except as provided in subsection (b) or (c) and notwithstanding any other provision of law, interest shall accrue on funds deposited in an interest-bearing account at a depository institution beginning not later than the business day on which the depository institution receives provisional credit for such funds. (b) SPECIAL RULE FOR CREDIT UNIONS.—Subsection (a) shall not apply to an account at a depository institution described in section 19(b)(l)(A)(iv) of the Federal Reserve Act if the depository institution— (1) begins the accrual of interest or dividends at a later date than the date described in subsection (a) with respect to all funds, including cash, deposited in such account; and (2) provides notice of the interest payment policy in the manner required under section 605(e). (c) EXCEPTION FOR CHECKS RETURNED UNPAID.—No provision of

this title shall be construed as requiring the payment of interest or dividends on funds deposited by a check which is returned unpaid. 12 USC 4006.

SEC. 607. MISCELLANEOUS PROVISIONS.

(a) AFTER-HOURS DEPOSITS.—For purposes of this title, 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.—Except as provided

in subsections 03)(3) and (c)(1)(B) of section 603, if any provision of this title 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 title shall be construed as— (1) prohibiting a depository institution from making funds g available for withdrawal in a shorter period of time than the period of time required by this title; 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.

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