‘ A. "Automated clearinghouse" means the nationwide electronic funds transfer system that provides for an interbank exchange of either checks or automated debit or credit entries.’
| HP1214 LD 1691 |
Session - 126th Maine Legislature S "A", Filing Number S-405, Sponsored by Gratwick
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LR 2628 Item 4 |
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| Bill Tracking, Additional Documents | Chamber Status | ||
Amend the bill in section 1 in §5-118 in subsection 1 by inserting after the first paragraph and before paragraph A the following:
Amend the bill in section 1 in §5-118 in subsection 1 in paragraph D in the first line (page 1, line 17 in L.D.) by inserting after the following: " processing." the following: ' For purposes of this section, "processor" does not include the automated clearinghouse.'
Amend the bill in section 1 in §5-118 in subsection 1 by relettering the paragraphs to read consecutively.
summary
This amendment provides that a processor does not include the nationwide automated electronic funds transfer system that provides for an interbank exchange of either checks or automated debit or credit entries.