By Mr. Montigny, a petition (accompanied by bill,
Senate, No. 603) of Mark C. Montigny for legislation to
protect banking consumers. Financial Services.
|
By Mr. Montigny, a petition (accompanied by bill,
Senate, No. 603) of Mark C. Montigny for legislation to
protect banking consumers. Financial Services.
|
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Chapter 167D is hereby amended by inserting, after section 18, the following new section:-
167D:18A. Upon any merger, acquisition, consolidation, purchase of assets, or any other unilateral internal administrative reason that a bank imposes a checking account identification number change or alteration causing a depositor’s unused checks or drafts to no longer be accepted for making transfers to third parties, the depositor shall be allowed, within 3 months of the date on which the account number is changed, to submit any unused checks or drafts to the bank. Upon submittal of the unused checks, the depositor shall be entitled to order from the bank, the same number of new checks reflecting the new account identification number at no expense to the depositor.
