WILLIAM DONALD SCHAEFER, Governor                    Ch. 481

(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 MEMBER OF A CREDIT
UNION TO DRAW ON ITEMS DEPOSITED TO THE CUSTOMER'S MEMBER'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
ITS CUSTOMER CUSTOMER OR MEMBER THAT PROVIDES FOR A PERIOD OF
TIME LONGER THAN THE TIME PRESCRIBED UNDER THIS SECTION SHALL BE
CONSIDERED UNREASONABLE AND THE MAXIMUM PERIOD OF TIME PERMITTED
BY REGULATION UNDER THIS SUBTITLE SHALL APPLY.

(B)  THIS SECTION DOES NOT PROHIBIT A CREDIT UNION AND ITS
CUSTOMER CUSTOMER OR MEMBER FROM AGREEING IN WRITING TO A GREATER
PERIOD OF TIME THAN THAT PRESCRIBED BY REGULATION UNDER THIS
SUBTITLE FOR DRAWING AGAINST ITEMS UNDER SPECIAL CIRCUMSTANCES
IF:

(1)  THE AGREEMENT IS NOT CONTAINED IN A PREPRINTED
FORM; AND

(2)  THE AGREEMENT IS NOT A USUAL, REGULAR BUSINESS
PRACTICE OF THE CREDIT UNION.

6-403.

(a) In this section, "payor institution means a bank,
credit union, or savings and loan association by which an item is
payable as drawn or accepted.

(b) As to each account of each depositor or shareholder in
a credit union, the credit union shall give to the customer or
member, on opening of the account and on any later demand of the
customer or member, written notice of the GENERALLY APPLICABLE
TIME LIMITATIONS AND THE CREDIT UNION'S POL1CY ON THE RIGHT TO
DRAW ON ITEMS RECEIVED FOR DEPOSIT IN THE CUSTOMER'S OR MEMBER'S
ACCOUNT AND 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 credit union:

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