Connecticut General Statutes/Title 36a/Chapter 665a/Section 36a-303

CGS § 36a-303. (Formerly Sec. 36-9o). Charge for overdraft, when prohibited.

No bank, Connecticut credit union or federal credit union may charge a fee or a penalty for an overdraft if such overdraft is due to an error on a direct deposit tape of the Social Security Administration or an accidental omission from such tape.

Short History

(P.A. 79-248, S. 1, 2; P.A. 94-122, S. 144, 340.)

Long History

History: P.A. 94-122 applied the prohibition on overdraft charges to all state and federal banks and credit unions, effective January 1, 1995; Sec. 36-9o transferred to Sec. 36a-303 in 1995.

PreviousCGS § 36a-302. (Formerly Sec. 36-9v). Applicability of federal Expedited Funds Availability Act to banks and credit unions.NextCGS § 36a-304. (Formerly Sec. 36-9bb). Cashing of state checks. Fee prohibited. Liability for loss from wrongful payment.