General Assembly Raised Bill No. 56
February Session, 2010 LCO No. 585
*00585_______BA_*
Referred to Committee on Banks
Introduced by:
(BA)
General Assembly
Raised Bill No. 56
February Session, 2010
LCO No. 585
*00585_______BA_*
Referred to Committee on Banks
Introduced by:
(BA)
AN ACT CONCERNING CERTAIN BANK FEES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Section 36a-317b of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2010):
Each bank, as defined in section 36a-2, shall cash, at its main office or any of its branch offices within this state, for any person any check payable at such bank or drawn on an account held at the bank in an amount up to and including [five hundred] fifty thousand dollars, provided the check is presented for payment by the payee of the check, there are sufficient available funds in the account on which the check was drawn to pay the check, and the person cashing the check provides adequate identification, and any information necessary for the bank to meet any reporting or recordkeeping requirements, as required by the bank. The bank may not require more than two forms of identification if the person provides one of the following forms of identification: (1) A current passport issued by the State Department of the United States, (2) a current motor vehicle operator's license issued pursuant to section 14-36, or (3) any current identity card issued by the Department of Motor Vehicles in accordance with section 1-1h. Notwithstanding the provisions of this section, the bank may determine that it is reasonably necessary to refuse payment in order to protect its customer or the bank against potential fraud or loss, or to otherwise comply with applicable law. The bank shall not charge a fee for cashing a check under this section.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2010 36a-317b
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2010
36a-317b
Statement of Purpose:
To prohibit a bank from charging a fee to cash checks that are in an amount up to and including fifty thousand dollars and drawn on the bank's account provided certain conditions are met.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]