Ch. 481                                    LAWS OF MARYLAND

(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 on 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 CREDIT UNION SHALL KEEP POSTER 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 CREDIT UNION'S
CUSTOMER'S AND MEMBER'S RIGHTS TO DRAW ON ITEMS DEPOSITED TO THE
CUSTOMER'S OR MEMBER'S ACCOUNT.------------------------

9-411.

(A) (1) IN THIS SECTION AND § 9-412, THE FOLLOWING WORDS
HAVE THE MEANINGS INDICATED.

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

(3)  "COLLECTION BASIS" MEANS FUNDS ARE MADE AVAILABLE
TO AN ACCOUNT HOLDER FOR AN ITEM WHEN THEY ARE COLLECTED BY THE
DEPOSITORY SAVINGS AND LOAN.

(4)  "DEPOSITARY DEPOSITORY SAVINGS AND LOAN" MEANS, A
SAVINGS AND LOAN ASSOCIATION WHICH MAINTAINS THE ACCOUNT INTO
WHICH AN ITEM IS FIRST DEPOSITED.

(5) "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.

(6) (I) "ITEM" MEANS ANY INSTRUMENT, WHETHER
NEGOTIABLE OR NONNEGOTIABLE, FOR THE PAYMENT OF MONEY.

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