Magnetic Ink Character Recognition Line Law and Legal Definition

According to 12 CFR 229.2 [Title 12 -- Banks And Banking; Chapter Ii -- Federal Reserve System; Subchapter A -- Board Of Governors Of The Federal Reserve System; Part 229 -- Availability Of Funds And Collection Of Checks (Regulation Cc); Subpart A – General] magnetic ink character recognition line and MICR line mean “the numbers, which may include the routing number, account number, check number, check amount, and other information, that are printed near the bottom of a check in magnetic ink in accordance with American National Standard Specifications for Placement and Location of MICR Printing, X9.13 for an original check and American National Standard Specifications for an Image Replacement Document -- IRD, X9.100-140 for a substitute check (unless the Board by rule or order determines that different standards apply).”