Reconverting bank (Check 21)

The financial institution that creates a substitute check. With respect to a substitute check that was created by a person that is not a financial institution, the reconverting bank is the first financial institution that transfers, presents, or returns that substitute check or, in lieu thereof, the first paper or electronic representation of that substitute check. The reconverting bank warrants that (1) the substitute check is the legal equivalent of the original check; and (2) the original check cannot be presented again in any form so the customer pays the check only once.