12 U.S.C. § 5013 — Variation by agreement

Page 1783 TITLE 12—BANKS AND BANKING § 5014 chapter and who receive original checks or substitute checks, a bank shall provide the no- tice described in subsection (a) to each such consumer no later than the first regularly scheduled communication with the consumer after the effective date of this chapter. (2) New account holders A bank shall provide the notice described in subsection (a) to each consumer who will re- ceive original checks or substitute checks, other than existing customers referred to in paragraph (1), at the time at which the cus- tomer relationship is initiated. (3) Mode of delivery A bank may send the notices required by this subsection by United States mail or by any other means through which the consumer has agreed to receive account information. (4) Consumers who request copies of checks Notice shall be provided to each consumer of the bank that requests a copy of a check and receives a substitute check, at the time of the request. (c) Model language (1) In general Before the end of the 9-month period begin- ning on October 28, 2003, the Board shall pub- lish model forms and clauses that a bank may use to describe each of the elements required by subsection (a). (2) Safe harbor (A) In general A bank shall be treated as being in compli- ance with the requirements of subsection (a) if the bank’s substitute check notice uses a model form or clause published by the Board and such model form or clause accurately describes the bank’s policies and practices. (B) Deletion or rearrangement A bank may delete any information in the model form or clause that is not required by this chapter or rearrange the format. (3) Use of model language not required This section shall not be construed as re- quiring any bank to use a model form or clause that the Board prepares under this sub- section. (Pub. L. 108–100, § 12, Oct. 28, 2003, 117 Stat. 1189.) Editorial Notes REFERENCES IN TEXT The effective date of this chapter, referred to in sub- sec. (b)(1), is at the end of the 12-month period begin- ning on Oct. 28, 2003, except as otherwise specifically provided in this chapter, see section 20 of Pub. L. 108–100, set out as an Effective Date note under section 5001 of this title. This chapter, referred to in subsec. (c)(2)(B), was in the original ‘‘this Act’’, meaning Pub. L. 108–100, Oct. 28, 2003, 117 Stat. 1177, which is classified generally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 5001 of this title and Tables. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective at the end of the 12-month period beginning on Oct. 28, 2003, see section 20 of Pub. L. 108–100, set out as a note under section 5001 of this title. § 5012. Effect on other law This chapter shall supersede any provision of Federal or State law, including the Uniform Commercial Code, that is inconsistent with this chapter, but only to the extent of the inconsist- ency. (Pub. L. 108–100, § 13, Oct. 28, 2003, 117 Stat. 1190.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in text, was in the original ‘‘this Act’’, meaning Pub. L. 108–100, Oct. 28, 2003, 117 Stat. 1177, which is classified generally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 5001 of this title and Tables. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective at the end of the 12-month period beginning on Oct. 28, 2003, see section 20 of Pub. L. 108–100, set out as a note under section 5001 of this title. § 5013. Variation by agreement (a) Section 5007 Any provision of section 5007 of this title may be varied by agreement of the banks involved. (b) No other provisions may be varied Except as provided in subsection (a), no provi- sion of this chapter may be varied by agreement of any person or persons. (Pub. L. 108–100, § 14, Oct. 28, 2003, 117 Stat. 1190.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in subsec. (b), was in the original ‘‘this Act’’, meaning Pub. L. 108–100, Oct. 28, 2003, 117 Stat. 1177, which is classified generally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 5001 of this title and Tables. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective at the end of the 12-month period beginning on Oct. 28, 2003, see section 20 of Pub. L. 108–100, set out as a note under section 5001 of this title. § 5014. Regulations The Board may prescribe such regulations as the Board determines to be necessary to imple- ment, prevent circumvention or evasion of, or facilitate compliance with the provisions of this chapter. (Pub. L. 108–100, § 15, Oct. 28, 2003, 117 Stat. 1190.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in text, was in the original ‘‘this Act’’, meaning Pub. L. 108–100, Oct. 28, 2003, 117