The regulations of the Federal Reserve Board authorize federal reserve banks in handling checks and other negotiable instruments forwarded to them for collection to forward them direct to the banks on which drawn and accept the drawees' drafts in payment. Statutes have been enacted in California, Colorado, Montana and Oregon authorizing banks doing business in those states to forward checks and other negotiable instruments received for collection direct to the banks on which drawn and accept the drawees' drafts in payment.
Robert W. Reid,
Notes and Comments,
Some Aspects of Regulations of the Federal Reserve Board and State Statutes Authorizing Forwarding of Checks for Collection Directo to Drawee Banks and Acceptance of Drafts in Payment,
4 Wash. L. Rev.
Available at: https://digitalcommons.law.uw.edu/wlr/vol4/iss1/4