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.