WILLIAM DONALD SCHAEFER, Governor

Ch. 768

CHAPTER 768

(House Bill 852)

AN ACT concerning

Financial Institutions - Check and Draft Requirements

FOR the purpose of requiring that savings banks banking

institutions, credit unions, and savings and loan
associations print the month and year a personal checking or
draft account was opened on the check or draft for the
account; providing a certain exception for joint accounts
under certain circumstances providing a certain exception
for certain other accounts; excluding certain checks or
drafts from this requirement; requiring that a different
month and year be printed on the check under certain
circumstances; indemnifying financial institutions and
printers in certain circumstances; and providing that these
requirements apply only to personal checking accounts opened
after the effective date of this Act.

BY adding to

Article - Financial Institutions
Section 5-310, 6-404, and 9-411
Annotated Code of Maryland
(1986 Replacement Volume)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Financial Institutions

5-310.

(A)  ANY CHECKS PROVIDED DIRECTLY OR INDIRECTLY BY A SAVINGS
BANK BANKING INSTITUTION OR TRUST COMPANY FOR USE IN CONNECTION
WITH A PERSONAL CHECKING ACCOUNT SHALL HAVE THE NUMERICAL MONTH
AND YEAR IN WHICH THE ACCOUNT WAS OPENED PRINTED ON THE FACE OF
THE CHECKS, EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION.

(B) THE PROVISIONS OF SUBSECTION (A) OF THIS SECTION SHALL
NOT APPLY UNDER CERTAIN CONDITIONS:                                   

(1) IF AN INDIVIDUAL PERSONAL CHECKING ACCOUNT IS
CLOSED AT A PARTICULAR BANK AND A JOINT PERSONAL ACCOUNT IS
OPENED AT THE SAME BANK, THAT INCLUDES ONE OF THE CUSTOMERS WHO

PREVIOUSLY HAD THE INDIVIDUAL PERSONAL ACCOUNT, THEN THE

NUMERICAL MONTH AND YEAR PRINTED ON THE FACE OF THE CHECKS SHALL
BE THE NUMERICAL MONTH AND YEAR IN WHICH THE INDIVIDUAL PERSONAL
ACCOUNT WAS ESTABLISHED.------------------------------------------

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