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§ 3-606. Certification of drafts

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 3. Banking Institutions--Commercial Banks
Subtitle 6. Miscellaneous Regulations (Refs & Annos)
MD Code, Financial Institutions, § 3-606
§ 3-606. Certification of drafts
Currentness
In general
(a) An officer, employee, or agent of a commercial bank may not certify any draft drawn on the commercial bank unless the drawer has on deposit an amount equal to at least the amount of the draft.
Drafts certified in violation of section
(b) If a draft is certified in violation of this section by a person who is authorized to certify drafts, it is a valid obligation of the commercial bank.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980.
Formerly Art. 11, § 93.
MD Code, Financial Institutions, § 3-606, MD FIN INST § 3-606
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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