HF 946

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to financial institutions; providing for the 
  1.3             debiting of checks; proposing coding for new law in 
  1.4             Minnesota Statutes, chapter 48. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [48.514] [TRANSACTION ACCOUNTS; CHECK 
  1.7   DEBITING.] 
  1.8      A financial intermediary must process checks drawn against 
  1.9   a transaction account by debiting the checks in sequence by 
  1.10  check number. 
  1.11     The definitions in section 48.512, subdivision 1, apply to 
  1.12  this section.