32-1-440. Financial institution's responsibility to provide notice when funds become available for withdrawal. (1) A depository bank shall provide clear and conspicuous written notice of the time periods and exceptions to the periods, concerning when funds become available for withdrawal as of right on deposit by check or similar instrument in the customer's deposit account. The notice must state the cutoff hour, if any, fixed by the financial institution after which an item is treated as being received at the opening of the next business day.
     (2) This notice must be:
     (a) provided to a potential customer prior to opening a deposit account;
     (b) mailed to each of the financial institution's present customers on or before December 31, 1985; and
     (c) posted in a conspicuous manner at each financial institution, automatic teller machine location, or other device that accepts deposits.
     (3) A deposit slip or envelope, or any other printed form furnished by the depository financial institution used in connection with deposits, must contain the following notice, printed in a conspicuous manner: "Your deposit may not be available for immediate withdrawal. Consult posted notices for further information.

     History: En. Sec. 1, Ch. 491, L. 1985.