When the bank starts holding your checks, you are in serious trouble.
Has anybody actually seen one of this instruments. Does it really have a picture of Maria Schiver naked on it?
Except the California registered warrant’s aren’t checks at all.
IMHO, they’re time-limited bills of credit, forbidden by Article 1, Section 10 of the United States Constitution.
Regardless, does anyone here actually think California will have the cash to satisfy the warrants on the redemption date? [I don’t think so.]
Maybe at 70-80% of face value would of been a calculated risk worth taking.
What happens when the bank is in serious trouble?
Holding checks is routing from BoA. I had $212K in a business account with them and they held a $12 check for 10 days.
I asked to speak to the manager, so she came, looked at the computer, made a face, then said to me “You’re not even in the Junior Executive Level” and walked off.