CLEARINGHOUSE

CLEARINGHOUSE

clearinghouse.

1. A place where banks exchange checks and drafts and settle their daily balances; an association of banks or other payors regularly clearing items. See UCC ¡ì 4-104(a)(4). [Cases: Banks and Banking 318¨C323. C.J.S. Banks and Banking ¡ì¡ì 647¨C649.]

2. A stock-and-commodity exchange where the daily transactions of the brokers are cleared.

3. Any place for the exchange of specialized information. ¡ª Also written clearing house.


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