Ch. 405                    LAWS OF MARYLAND

shall be available for withdrawal as of right, for each of the

situations where the banking institution:

       (1) Is also the payor institution;

(2) Is located in the same state as the payor
institution; and

(3) Is located in a different state from that in
which the payor institution is located.

(c) The notice shall also state the time after which the
funds represented by an item become available for withdrawal as
of right where the item is issued by:

(1) The Maryland State Government or any agency
thereof;

(2) The United States Treasury; and                           

(3) Any agency of the federal government.

(d) The notice shall be printed in type no smaller than
elite typewriter characters.

(E) THE BANK SHALL KEEP POSTED IN A CONSPICUOUS LOCATION,

AT EACH BRANCH OF THE BANK, A NOTICE THAT SUBSTANTIALLY SETS

FORTH THE GENERALLY APPLICABLE TIME LIMITATIONS AND THE BANK'S

POLICY ON THE BANK'S CUSTOMER'S RIGHTS TO DRAW ON ITEMS DEPOSITED
TO THE CUSTOMER'S ACCOUNT.

SUBTITLE 4A. WITHDRAWAL OF ITEMS

6-4A-01.

(A)  IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(B)   "BUSINESS DAY" MEANS ANY DAY EXCLUDING SATURDAYS,
SUNDAYS, AND LEGAL HOLIDAYS.

(C)   "COLLECTION BASIS" MEANS FUNDS ARE MADE AVAILABLE TO A
CUSTOMER OR MEMBER FOR AN ITEM WHEN THEY ARE COLLECTED BY THE
DEPOSITORY CREDIT UNION.

(D)  "DEPOSITARY DEPOSITORY CREDIT UNION" MEANS A CREDIT
UNION WHICH MAINTAINS THE ACCOUNT INTO WHICH AN ITEM IS FIRST
DEPOSITED.

(E)   "FOREIGN ITEM" MEANS ANY ITEM THAT IS PAYABLE AS DRAWN
OR ACCEPTED BY A FOREIGN FINANCIAL INSTITUTION THAT HAS ITS
PRINCIPAL PLACE OF BUSINESS IN A FOREIGN NATION AND DOES NOT HAVE
A SUBSIDIARY IN THE STATE.

- 2068 -