Sec. 229.43 Checks payable in Guam, American
Samoa, and the Northern Mariana Islands.
(a) Definitions. The definitions in Sec. 229.2
apply to this section, unless otherwise noted. In addition, for the purposes
of this section--
(1) Pacific island bank means an office of
an institution that would be a bank as defined in Sec. 229.2(e) but for
the fact that the office is located in Guam, American Samoa, or the Northern
Mariana Islands;
(2) Pacific island check means a demand draft
drawn on or payable through or at a Pacific island bank, which is not a
check as defined in Sec. 229.2(k).
(b) Rules applicable to Pacific island checks.
To the extent a bank handles a Pacific island check as if it were a check
defined in Sec. 229.2(k), the bank is subject to the following sections
of this part (and the word ``check'' in each such section is construed
to include a Pacific island check)--
(1) Sec. 229.31, except that the returning
bank is not subject to the requirement to return a Pacific island check
in an expeditious manner;
(2) Sec. 229.32;
(3) Sec. 229.34(c)(2), (c)(3), (d), (e), and (f);
(4) Sec. 229.35; for purposes of Sec. 229.35(c),
the Pacific island bank is deemed to be a bank;
(5) Sec. 229.36(d);
(6) Sec. 229.37;
(7) Sec. 229.38(a) and (c) through (h);
(8) Sec. 229.39(a), (b), (c) and (e); and
(9) Secs. 229.40 through 229.42.
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