PRINTER'S NO. 2435
No. 1973 Session of 1991
INTRODUCED BY STEELMAN, STEIGHNER, TRELLO, LAUGHLIN, BILLOW,
KRUSZEWSKI, FAJT, KASUNIC, JOSEPHS, JAMES, MICHLOVIC AND
BISHOP, AUGUST 3, 1991
REFERRED TO COMMITTEE ON BUSINESS AND COMMERCE, AUGUST 3, 1991
AN ACT
1 Amending the act of November 30, 1965 (P.L.847, No.356),
2 entitled "An act relating to and regulating the business of
3 banking and the exercise by corporations of fiduciary powers;
4 affecting persons engaged in the business of banking and
5 corporations exercising fiduciary powers and affiliates of
6 such persons; affecting the shareholders of such persons and
7 the directors, trustees, officers, attorneys and employes of
8 such persons and of the affiliates of such persons; affecting
9 national banks located in the Commonwealth; affecting persons
10 dealing with persons engaged in the business of banking,
11 corporations exercising fiduciary powers and national banks;
12 conferring powers and imposing duties on the Banking Board,
13 on certain departments and officers of the Commonwealth and
14 on courts, prothonotaries, clerks and recorders of deeds;
15 providing penalties; and repealing certain acts and parts of
16 acts," providing for customer receipts at automated teller
17 machines.
18 The General Assembly of the Commonwealth of Pennsylvania
19 hereby enacts as follows:
20 Section 1. Section 602 of the act of November 30, 1965
21 (P.L.847, No.356), known as the Banking Code of 1965, is amended
22 to read:
23 Section 602. Deposits--Receipts, Notice of Rules and Binding
24 Effect of Statements
25 (a) Receipts--[An] Unless subsection (d) is applicable, an
1 institution shall give a receipt[,] by pass-book, duplicate
2 deposit slip or ticket or otherwise[,] for every deposit
3 received by it except that for deposits made by an employer to
4 the credit of individual accounts of employes:
5 (i) the receipt shall be given to the employer at the
6 time of the deposit, and
7 (ii) each employe shall be given upon request a
8 statement of his account and not less frequently than once
9 each year a statement showing the balance of his account.
10 (b) Notice of rules--An institution [which] that has adopted
11 rules governing deposits or withdrawal of deposits shall give
12 notice of the rules and of all changes therein to each customer
13 whose deposits are affected by such rules, either by delivery of
14 a copy to such customer or by posting in the offices of the
15 institution.
16 (c) Statements--If an institution renders an accounting to a
17 depositor by giving the depositor a statement of the account or
18 by entries in a pass-book delivered to the depositor to show the
19 condition of the account and if there is no objection to the
20 accounting by the depositor, such accounting shall after a
21 period of three years from the date it is rendered become final
22 and binding. This provision is in addition to other statutory
23 provisions affecting the duty of a depositor to examine
24 statements and items paid from his account.
25 (d) Automated teller machine receipts.--In any transaction
26 conducted by way of an automated teller machine, an institution
27 shall give a written receipt to a customer only if the customer
28 elects, by pressing a key at the time of the transaction, to
29 receive a receipt.
30 Section 2. This act shall take effect in 60 days.
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