NAC360.554. “Automated clearinghouse” and “ACH” defined.

Latest version.

“Automated clearinghouse” or “ACH” means any federal reserve bank, or an organization established in agreement with the National Automated Clearing House Association, that operates as a clearinghouse for transmitting or receiving entries between banks or bank accounts and authorizes an electronic transfer of money between banks or bank accounts.

(Added to NAC by Tax Comm’n by R062-05, eff. 10-31-2005)

                    
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