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Octopus National Bank, which has branches throughout the state, has one central processing center where it makes all decisions about whether to pay checks drawn
Octopus National Bank, which has branches throughout the state, has one central processing center where it makes all decisions about whether to pay checks drawn on the branches. The canceled checks are returned to the branches two days after the processing center decides to pay them. Is the moment of presentment to the payer bank the moment of presentment to the processing center or the moment when the check is returned to the individual branch? See Regulation CC 229.36(b)(4)
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