Ch. 481

LAWS OF MARYLAND

DEPOSIT IS MADE ON A SATURDAY, SUNDAY, LEGAL HOLIDAY, OR AFTER
THE CLOSE OF BUSINESS, THE TERM "BUSINESS DAY" EXCLUDES THE FIRST
BUSINESS DAY AFTER THE DAY OF DEPOSIT, WHERE:

(I)  A LEGAL HOLIDAY IS A HOLIDAY ON WHICH THE
DEPOSITORY SAVINGS AND LOAN IS CLOSED; AND

(II)  THE CLOSE OF BUSINESS FOR A DEPOSITORY
SAVINGS AND LOAN IS THE CLOSING TIME OF THE BRANCH OFFICE WHERE
THE DEPOSIT IS MADE, AS DETERMINED BY THE DEPOSITORY SAVINGS AND
LOAN, AND FOR AN ELECTRONIC BANKING FACILITY, THE CLOSE OF
BUSINESS IS THE CLOSING TIME OF THE NEAREST BRANCH OFFICE OF THE
DEPOSITORY SAVINGS AND LOAN;

(2)  IF A DEPOSITORY SAVINGS AND LOAN DOES NOT COLLECT
ITEMS DIRECTLY THROUGH A CLEARINGHOUSE, FEDERAL RESERVE, OR OTHER
COLLECTION SYSTEM AND USES ANOTHER FINANCIAL INSTITUTION TO
COLLECT ON ITEMS, THE DEPOSITORY SAVINGS AND LOAN SHALL HAVE AN
ADDITIONAL BUSINESS DAY WITHIN WHICH TO MAKE FUNDS AVAILABLE TO
AN ACCOUNT HOLDER;

(3)  WHEN A DEPOSITORY SAVINGS AND LOAN FINDS THAT THE
COLLECTIBILITY OF AN ITEM IS DOUBTFUL, THE DEPOSITORY SAVINGS AND
LOAN MAY MAKE FUNDS AVAILABLE FOR THE ITEM ON A COLLECTION BASIS
IF THE DEPOSITORY SAVINGS AND LOAN NOTIFIES THE ACCOUNT HOLDER
ORALLY OR IN WRITING OF THIS ACTION WITHIN THE TIME THAT THE
DEPOSITORY SAVINGS AND LOAN OTHERWISE WOULD BE REQUIRED UNDER
REGULATIONS ADOPTED UNDER THIS SUBTITLE TO MAKE FUNDS AVAILABLE
TO THE ACCOUNT HOLDER;

(4)  A DEPOSITORY SAVINGS AND LOAN MAY FIND THAT THE
COLLECTIBILITY OF AN ITEM IS DOUBTFUL, IF:

(I)  THE DEPOSITORY SAVINGS AND LOAN HAS REASON
TO BELIEVE THAT THE MAKER, DRAWER, OR PAYOR OF THE ITEM IS
INSOLVENT;

(II)  THE ITEM CONTAINS AN INFIRMITY ON ITS
FACE, INCLUDING A FORGERY, AN ALTERATION, OR FALSE OR FRAUDULENT
INDICATION OF THE DRAWER'S, MAKER'S, OR PAYOR'S NAME OR ROUTING
NUMBER; OR

(III)  THE MANNER OF PRESENTMENT OF THE ITEM
RAISES A REASONABLE SUSPICION OF FRAUD;

(5)  FOR ANY ITEM IN EXCESS OF $2,500 MADE BY AN
ACCOUNT HOLDER IN ONE 1 BUSINESS DAY, THE AVAILABILITY OF FUNDS
FOR THE AMOUNT IN EXCESS OF $2,500 SHALL BE DETERMINED ACCORDING
TO THE SAVINGS AND LOAN ASSOCIATION'S POLICY, OR IF THE ACCOUNT
HOLDER ELECTS, ON A COLLECTION BASIS;

(6)  FOR ANY ITEM DEPOSITED BY A NEW ACCOUNT HOLDER AT
A DEPOSITORY SAVINGS AND LOAN, THE AVAILABILITY OF FUNDS FOR ANY

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