Regulations last checked for updates: Nov 22, 2024

Title 12 - Banks and Banking last revised: Nov 20, 2024
§ 229.37 - Variation by agreement.

The effect of the provisions of subpart C may be varied by agreement, except that no agreement can disclaim the responsibility of a bank for its own lack of good faith or failure to exercise ordinary care, or can limit the measure of damages for such lack or failure; but the parties may determine by agreement the standards by which such responsibility is to be measured if such standards are not manifestly unreasonable.

authority: 12 U.S.C. 4001-4010,12.S.C. 5001-5018
source: 53 FR 19433, May 27, 1988, unless otherwise noted.
cite as: 12 CFR 229.37