Regulatory Text
31 C.F.R. § 240.18 — Lack of authority to shift liability.
§ 240.18 Lack of authority to shift liability. (a) This part neither authorizes nor directs a financial institution to debit the account of any person or to deposit any funds from any account into a suspense account or escrow account or the equivalent. Nothing in this part shall be construed to affect a financial institution's contract with its depositor(s) under authority of state law. (b) A financial institution's liability under this part is not affected by any action taken by it to recover from any person the amount of the financial institution's liability to the Treasury.
Source: ecfr.gov · govinfo.gov — public domain
Official Source ↗
Root-LD Entity Data
◈ Machine-Readable Provenance Record
Root-LD v1.0 · boisestandard.org
Federation ID
BS-CFR31-SEC-4DC7F2
Entity Class
REGULATION / FEDERAL-CFR-SECTION
Domain Signature
boisestandard.org
Citation
31 C.F.R. § 240.18
Corpus
CFR — Code of Federal Regulations
Status
✓ ACTIVE
Source
PRIMARY-SOURCE
Source Verified
✓ TRUE
Content Hash
c6ac72ae62ba1646...
Semantic Edges
Pending — corpus passes queued
The regulatory text of 31 C.F.R. § 240.18 is reproduced from the official Code of Federal Regulations as published by the Office of the Federal Register and the National Archives and Records Administration.
Navigate Corpus — Title 31 C.F.R.
Title 31 — Money and Finance: Treasury
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31 C.F.R. — public domain
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