Chris Evan
As I was perusing the Internet looking for some articles on ink color for negotiable instruments, I came across this on the FDIC website.
What happens when there is a conflict between state law and the Check 21 statute? Massachusetts, for example, prohibits check truncation. Response: Section 13 of the Check 21 Act provides that the Act shall supersede any provision of federal or state law, including the Uniform Commercial Code, which is inconsistent with this Act, but only to the extent of the inconsistency. State laws such as those prohibiting check truncation will become void and unenforceable beginning on the Act's effective date of October 28, 2004.
I had already known that the Check 21 Act is a license to steal (as evidenced by the increasingly larger banks and national debt), but I didn't know this Act was written to SUPERSEDE ALL other law! Basically, wouldn't this mean that this Act now governs Negotiable Instruments? If so, why have we never had a post on this?
http://www.fdic.gov/regulations/resources/21actfaq/
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