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Introduced Version House Bill 2446 History

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hb2446 intr
H. B.2446


(By Delegates Staton, Amores, Campbell,

Mahan and G. White)



[Introduced February 15, 2005; Referred to the committee on the Judiciary.]



A BILL to amend and reenact §61-3-39l of the code of West Virginia, 1931, as amended, all relating to the display of the date a consumer deposit account was opened on all checks, drafts or similar orders of withdrawal that may be used for drawing against funds held in the account.

Be it enacted by the Legislature of West Virginia:
That §61-3-39l of the code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:
ARTICLE 3. CRIMES AGAINST PROPERTY.
§61-3-39l Checks on consumer deposit accounts to show date account was opened; consumer deposit account defined.

(a) Beginning on the first day of July, one thousand nine hundred eighty-four two thousand five, all any person who sells or distributes checks, drafts or similar negotiable or nonnegotiable instruments or orders of withdrawal which are thereafter printed to may be used for drawing drawn against funds held in a consumer deposit account by a supervised financial organization located in the state of West Virginia a consumer deposit account, shall have clearly printed on the face thereof a four or five-digit combination of numbers and letters as follows:
(1) In the case of a consumer deposit account which has been open for less than one year, a five-digit combination. The first two digits, running from 01 through 12, shall numerically identify the month the account was opened, followed by a hyphen, and the fourth and fifth digits shall be the last two numbers of the year in which the account was opened.
(2) In the case of a consumer deposit account which has been open for one year or more, a four digit combination which shall be "1 Yr. +":
Provided, That a new account or an account which has been open for less than one year may be treated as an account which has been open for one year or more when a person authorized to draw against funds in the account shall demonstrate to the supervised financial organization through the production of account statements that he has had a demand or other similar deposit account or share account at the same or another financial institution for twelve months immediately preceding his request for printed checks. cause the month and year in which the account was opened to be displayed clearly on the face of each check, draft, or order.
(b) For purposes of this section the term "consumer deposit account" means a demand or other similar deposit account or share account established and maintained by a natural person with a supervised financial organization and operated primarily for personal, family or household purposes. The term "supervised financial organization" shall have the same meaning as is ascribed to such term in section one hundred two, article one, chapter forty-six-a of this code.
(c) The commissioner of banking is authorized and empowered to order any supervised financial institution to comply with the provisions of this section and may apply to any state or federal court of competent jurisdiction for appropriate orders, writs, processes and remedies in aid of enforcement.


Note: This bill requires that the date a consumer deposit account was opened appear on all checks, drafts or similar orders of withdrawal used for drawing against funds held in a consumer deposit account



Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.
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