Part 2: Proposed Rules Changes for Section XIX of the Rules Section # Proposed Revision Explanation of Proposed Revision Section XIX Electronic Checks Section XIX(A) through Various changes to reflect Changes throughout Section XIX to reflect transition to new Section XIX(Q) new defined terms of ECCHO defined terms: Electronic Check, Image and Electronic Check, Image Electronic Information. (Page 136 - 234) and Electronic Information. Section XIX(A) Definitional changes only. No substantive changes to this section. Updated defined terms. Compliance with Other Rules Sections (Page 136) Section XIX(B) No changes. N/A Reserved (Page 137) Section XIX(C) Added the in Addition of the in Section XIX(C)(1)(a.1) more word “paper” word “paper” Section XIX(C)(1)(a.1) clearly links ECCHO eligibility rule to the definition of Items Eligible for Imaging in amended Regulation CC which says “Electronic Check” Text in Section XIX(C)(1) that an Electronic Check is derived from a check.” “paper (Page 138-141) regarding agreement banks’ to send items with Other changes to Section XIX(C) and related Commentary incomplete MICR line --- are intended to improve readability by (i) relocating certain shortened and moved to text to new standalone paragraphs within Section XIX(C) and bottom of Section (ii) shortening some phrasing. XIX(C)(1). Text formerly in Section XIX(C)(1) regarding items in carrier envelope --- moved down to new Section XIX(C)(6). Text formerly in Section XIX(C)(2) regarding Electronic Checks with missing image --- moved down to new Section XIX(C)(7). Shortened introduction to Section XIX(C)(3) regarding
Part 2: Proposed Rules Changes for Section XIX of the Rules Section # Proposed Revision Explanation of Proposed Revision Section XIX Electronic Checks Section XIX(A) through Section XIX(Q) (Page 136 - 234) Various changes to reflect new defined terms of Electronic Check, Image and Electronic Information. Changes throughout Section XIX to reflect transition to new ECCHO defined terms: Electronic Check, Image and Electronic Information. Section XIX(A) Compliance with Other Rules Sections (Page 136) Definitional changes only. No substantive changes to this section. Updated defined terms. Section XIX(B) Reserved (Page 137) No changes. N/A Section XIX(C) Items Eligible for Imaging (Page 138-141) Added the word “paper” in Section XIX(C)(1)(a.1) Text in Section XIX(C)(1) regarding banks’ agreement to send items with incomplete MICR line --- shortened and moved to bottom of Section XIX(C)(1). Text formerly in Section XIX(C)(1) regarding items in carrier envelope --- moved down to new Section XIX(C)(6). Text formerly in Section XIX(C)(2) regarding Electronic Checks with missing image --- moved down to new Section XIX(C)(7). Shortened introduction to Section XIX(C)(3) regarding Addition of the word “paper” in Section XIX(C)(1)(a.1) more clearly links ECCHO eligibility rule to the definition of “Electronic Check” in amended Regulation CC which says that an Electronic Check is derived from a “paper check.” Other changes to Section XIX(C) and related Commentary are intended to improve readability by (i) relocating certain text to new standalone paragraphs within Section XIX(C) and (ii) shortening some phrasing.