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§ 602. Deposits--receipts, notice of rules and binding effect of statements

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and Banking

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 7 P.S. Banks and Banking (Refs & Annos)
Banking Code of 1965 (Refs & Annos)
Chapter 6. Rules Concerning Deposits, Safe-Deposit Agreements and Money Received for Transmission (Refs & Annos)
7 P.S. § 602
§ 602. Deposits--receipts, notice of rules and binding effect of statements
(a) Receipts--An institution shall give a receipt, by pass-book, duplicate deposit slip or ticket or otherwise, for every deposit received by it except that for deposits made by an employer to the credit of individual accounts of employes:
(i) the receipt shall be given to the employer at the time of the deposit, and
(ii) each employe shall be given upon request a statement of his account and not less frequently than once each year a statement showing the balance of his account.
(b) Notice of rules--An institution which has adopted rules governing deposits or withdrawal of deposits shall give notice of the rules and of all changes therein to each customer whose deposits are affected by such rules, either by delivery of a copy to such customer or by posting in the offices of the institution.
(c) Statements--If an institution renders an accounting to a depositor by giving the depositor a statement of the account or by entries in a pass-book delivered to the depositor to show the condition of the account and if there is no objection to the accounting by the depositor, such accounting shall after a period of three years from the date it is rendered become final and binding. This provision is in addition to other statutory provisions affecting the duty of a depositor to examine statements and items paid from his account.

Credits

1965, Nov. 30, P.L. 847, No. 356, § 602.
7 P.S. § 602, PA ST 7 P.S. § 602
Current through 2022 Regular Session Act 166. Some statute sections may be more current, see credits for details.
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