In addition to any disclosure required by Part 13 of the General Regulations of the superintendent, with regard to consumer deposit accounts, a banking institution shall disclose in writing to its depositors the order in which it pays items drawn against a depositor's account. By way of illustration, and without limitation, such disclosure may inform the depositor that the banking institution pays the largest items first, the smallest item first, or by the number of the item or in the order received. Such disclosure shall be given to the depositor at the time the account is opened and 30 days prior to the time the payment policy is changed. For existing accounts, such disclosure shall be provided within 120 days of the effective date of this section.