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2024 SESSION

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SB 166 Financial institutions; consumer has option of completing certain payments electronically.

Introduced by: Bryce E. Reeves | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Financial institutions; certain payments required electronically. Requires any financial institution that initiates an electronic fund transfer as payment for the sale to a consumer of a security issued by such financial institution to make available to the consumer the option of completing any payment of principal, interest, dividend, or other distribution related to the security via an electronic fund transfer.

SUMMARY AS INTRODUCED:

Financial institutions; certain payments required electronically. Requires any financial institution that initiates an electronic fund transfer as payment for the sale to a consumer of a security issued by such financial institution to make any payment of principal, interest, dividend, or other distribution related to the security to the consumer via an electronic fund transfer.