Section 80.5304.1 - Eligible Securities(a) Financial Code Section 2082(b)(12) provides that "any receivable owed by a bank and resulting from an automated clearinghouse, debit, or credit-funded transmission" is a United States currency eligible security. For purposes of this subarticle, the following terms shall apply: (1) A receivable owed by a bank and resulting from an automated clearinghouse transmission will be termed an "ACH Receivable."(2) A receivable owed by a bank and resulting from a credit-funded transmission will be termed a "Credit Card Receivable."(3) A receivable owed by a bank and resulting from a debit funded transmission will be termed a "Debit Card Receivable."(b) The terms ACH Receivables, Credit Card Receivables, and Debit Card Receivables are defined at § 80.5305.Cal. Code Regs. Tit. 10, § 80.5304.1
1. New section filed 8-11-2015; operative 10-1-2015 (Register 2015, No. 33). Note: Authority cited: Sections 2082 and 2086, Financial Code. Reference: Sections 2082 and 2086, Financial Code.
1. New section filed 8-11-2015; operative 10/1/2015 (Register 2015, No. 33).