General Assembly Substitute Bill No. 114
January Session, 2013 *_____SB00114HSG___031313____*
General Assembly
Substitute Bill No. 114
January Session, 2013
*_____SB00114HSG___031313____*
AN ACT PROHIBITING LANDLORDS FROM REQUIRING TENANTS TO PAY RENT BY ELECTRONIC FUNDS TRANSFER.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective October 1, 2013) No landlord shall require electronic funds transfer as the exclusive form of payment of rent or a security deposit. For purposes of this section, "electronic funds transfer" means any transfer of funds that is initiated through an electronic terminal, telephone or computer or magnetic tape so as to order, instruct or authorize a financial institution to debit or credit an account but shall not include any transfer originated by check, draft or similar paper instrument.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2013 New section
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2013
New section
HSG Joint Favorable Subst.
HSG
Joint Favorable Subst.