PRIOR PRINTER'S NO.2092 PRINTER'S NO. 2323
No. 1668 Session of 1975
INTRODUCED BY MESSRS. BENNETT, ROMANELLI, KOWALYSHYN,
L. E. SMITH, HALVERSON AND DeVERTER, JULY 22, 1975
AS AMENDED ON THIRD CONSIDERATION, HOUSE OF REPRESENTATIVES,
OCTOBER 2, 1975
AN ACT
1 To facilitate the use of electronic funds transfer systems by
2 providing that credits to accounts in financial institutions
3 designated by recipients shall satisfy legal requirements for
4 payments by cash or checks.
5 The General Assembly of the Commonwealth of Pennsylvania
6 hereby enacts as follows:
7 Section 1. For the purposes of any statute, rule or
8 regulation requiring any payment to be made in lawful money or
9 by check, whether for wages, salaries, commissions or other
10 claims of any kind, such payment may be made by credit to an
11 account in a bank or other financial institution authorized to
12 accept deposits designated by the recipient of such payment if
13 the recipient has requested such method of payment in writing.
14 SECTION 2. EVERY SUCH REQUEST, AS DESCRIBED IN SECTION 1, <--
15 SHALL BE EFFECTIVE PROVIDED THAT:
16 (I) THE WRITTEN AGREEMENT SHALL SET FORTH ALL TERMS AND
17 CONDITIONS UNDER WHICH SUCH TRANSFERS ARE TO BE MADE AND THE
18 TERMS AND CONDITIONS AS TO THE METHOD OR METHODS TO BE USED BY
1 WHICH A WAGE-EARNER MAY WITHDRAW SUCH REQUEST AND TERMINATE THE
2 AGREEMENT; AND
3 (II) NO FUNDS TRANSFERRED PURSUANT TO A REQUEST AS DESCRIBED
4 IN SECTION 1, SHALL BE TRANSFERRED BY ANY EMPLOYER OR OTHER
5 PERSON TO ANY ACCOUNT UNLESS THE PARTY AUTHORIZING THE TRANSFER
6 OF SUCH FUNDS SHALL HAVE RECEIVED A SEPARATE WRITTEN RECORD OF
7 EACH SUCH TRANSFER AT OR PRIOR TO THE TIME THEREOF.
8 Section 2 3. This act shall supersede any inconsistent <--
9 provision of any other statute, rule or regulation.
10 Section 3 4. This act shall take effect immediately. <--
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