WILLIAM DONALD SCHAEFER, Governor                   Ch. 405

THE time after which the funds represented by an item deposited
to the account shall be available for withdrawal as of right, for
each of the situations where the association:

(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] 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 SAVINGS AND LOAN ASSOCIATION SHALL KEEP POSTED IN A
CONSPICUOUS LOCATION, AT EACH BRANCH OF THE ASSOCIATION, A NOTICE
THAT SUBSTANTIALLY SETS FORTH THE GENERALLY APPLICABLE TIME
LIMITATIONS AND THE ASSOCIATION'S POLICY ON THE ASSOCIATION'S
CUSTOMER'S RIGHTS TO DRAW ON ITEMS DEPOSITED TO THE CUSTOMER'S
ACCOUNT.

SECTION 2. AND BE IT FURTHER ENACTED, That:

(a) If the federal government enacts legislation , or
directs the Federal Reserve to, establish time limits within
which a financial institution is required to make funds available
for items deposited by a customer, member, or account holder of
the financial institution, and if federal legislation does not
apply to all banking institutions, credit unions, and savings and
loan associations chartered or incorporated -under the laws of the
State:

(1)  The Bank Commissioner is empowered to and shall
adopt regulations for banking institutions and credit unions
chartered or incorporated under the laws of the State and not
covered by the federal legislation; and

(2)  The Director of the Division of Savings and Loan
Associations is empowered to and shall adopt regulations for

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