Solved

When May a Bank Pay an Overdraft of $5,000 Created

Question 125

Multiple Choice

When may a bank pay an overdraft of $5,000 created by an executive officer of the bank?


A) When the officer is at the level of a vice president or lower.
B) When the officer has previously signed an overdraft protection credit agreement in an amount sufficient to cover the overdraft.
C) When the officer has enough funds in another account to cover the overdraft.
D) When the bank pays the overdrafts for other good customers in the ordinary course of business.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents