WILLIAM DONALD SCHAEFER, Governor                    Ch. 405

(5)  FOR ANY ITEM IN EXCESS OF $2,500 MADE BY A
CUSTOMER OR MEMBER IN ONE 1 BUSINESS DAY, THE AVAILABILITY OF
FUNDS FOR THE AMOUNT IN EXCESS OF $2,500 SHALL BE DETERMINED
ACCORDING TO THE DEPOSITORY CREDIT UNION'S POLICY, OR IF THE
CUSTOMER OR MEMBER ELECTS, ON A COLLECTION BASIS;

(6)  FOR ANY ITEM DEPOSITED BY A NEW CUSTOMER OR
MEMBER AT A DEPOSITORY CREDIT UNION, THE AVAILABILITY OF FUNDS
FOR ANY ITEM DEPOSITED WITHIN 90 CALENDAR DAYS OF THE OPENING OF
AN ACCOUNT BY THE CUSTOMER OR MEMBER SHALL BE SUBJECT TO THE
CREDIT UNION'S POLICY; AND

(7)  EXCEPT FOR ACCOUNTS WITH OVERDRAFT PROTECTION IN
WHICH THE CUSTOMER'S OR MEMBER'S CREDIT LINE HAS NOT BEEN
EXCEEDED, IF ANY ACCOUNT OR COMBINATION OF ACCOUNTS OF A CUSTOMER
OR MEMBER HAS BEEN OVERDRAWN HAD ITEMS-AN ITEM RETURNED ON 3
SEPARATE OCCASIONS BUSINESS DAYS WITHIN A 6-MONTH PERIOD, ALL
ACCOUNTS OF THAT CUSTOMER OR MEMBER SHALL BE SUBJECT TO THE
CREDIT UNION'S POLICY FOR A PERIOD OF 6 MONTHS AFTER THE THIRD
3RD RETURN FOR INSUFFICIENT FUNDS.

(C) THE BANK COMMISSIONER MAY GATHER FROM CREDIT UNIONS IN
THE STATE ANY INFORMATION REQUIRED BY THE BANK COMMISSIONER FOR
THE ADOPTION OF REGULATIONS UNDER THIS SECTION.

(D) THE REGULATIONS ADOPTED UNDER THIS SECTION SHALL

REQUIRE EACH CREDIT UNION TO:

 (1) NOTIFY EACH OF THE CUSTOMERS OF THE CREDIT UNION
IN WRITING OF THE APPLICABLE TIME LIMITATIONS AND THE CREDIT
UNION'S POLICY ON THE RIGHT TO DRAW ON ITEMS RECEIVED FOR DEPOSIT
IN THE CUSTOMER'S ACCOUNT; AND

(2) KEEP POSTED IN A CONSPICUOUS LOCATION, AT EACH
BRANCH OF THE CREDIT UNION, A NOTICE THAT SUBSTANTIALLY SETS
FORTH THE GENERALLY APPLICABLE TIME LIMITATIONS AND THE CREDIT
UNION'S POLICY ON THE RIGHTS OF A CUSTOMER OF A CREDIT UNION TO
DRAW ON ITEMS DEPOSITED TO THE CUSTOMER'S ACCOUNT.

(E) (D) THE REGULATIONS ADOPTED UNDER THIS SECTION DO NOT
APPLY TO FOREIGN ITEMS.

(F) (E) THE BANK COMMISSIONER MAY ADOPT, ON A DETERMINATION
BY THE BANK COMMISSIONER THAT THE UNIFORM APPLICATION OF A
REGULATION ADOPTED UNDER THIS SECTION RESULTS IN UNSOUND OR
UNSAFE PRACTICES, ANY FURTHER REGULATION THE BANK COMMISSIONER
CONSIDERS APPROPRIATE ADDITIONAL RULES AND REGULATIONS NECESSARY
TO CARRY OUT THE PROVISIONS OF THIS SUBTITLE.

6-4A-04.

(A) EXCEPT AS PROVIDED UNDER SUBSECTION (B) OF THIS
SECTION, ANY PROVISION IN AN AGREEMENT BETWEEN A CREDIT UNION AND

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