Sec. 36a-303. (Formerly Sec. 36-9o). Charge for overdraft, when prohibited. - Connecticut Statutes

      Sec. 36a-303. (Formerly Sec. 36-9o). Charge for overdraft, when prohibited. No bank, Connecticut credit union or federal credit union may charge a fee or a penalty for an overdraft if such overdraft is due to an error on a direct deposit tape of the Social Security Administration or an accidental omission from such tape.

      (P.A. 79-248, S. 1, 2; P.A. 94-122, S. 144, 340.)

      History: P.A. 94-122 applied the prohibition on overdraft charges to all state and federal banks and credit unions, effective January 1, 1995; Sec. 36-9o transferred to Sec. 36a-303 in 1995.