Paper or Electronic Representation of a Substitute Check 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] paper or electronic representation of a substitute check means “any copy of or information related to a substitute check that a bank handles for forward collection or return, charges to a customer's account, or provides to a person as a record of a check payment made by the person.”