AFRICA.

HARRY HUGHES, Governor                                         3633

(2) ANY NATIONAL CORPORATION OF THE REPUBLIC OF SOUTH

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

(C) IF DIRECT OR INDIRECT LOANS PROHIBITED BY SUBSECTION
(B) OF THIS SECTION ARE MADE BY A FOREIGN OR OUT-OF-STATE
FINANCIAL INSTITUTION WITHOUT THE PARTICIPATION OF A SUBSIDIARY
OR AFFILIATED CORPORATION, THIS SECTION DOES NOT APPLY TO THE
SUBSIDIARY OR AFFILIATED CORPORATION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act does not
apply to any loans, either direct or indirect, outstanding prior
to the effective date of this Act.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect January 1, 1985.

Approved May 29, 1984.

CHAPTER 776

(House Bill 1344)

AN ACT concerning

Commercial Law Financial Institutions - Check
Collection

FOR the purpose of altering the conditions under which credit

given by a bank, credit union, or savings and loan

association for an item deposited in an account with its
customer becomes available for withdrawal as of right;
specifying when credit given by a bank, credit union, or
savings and loan association for an item deposited in an
account with its customer becomes available for withdrawal
as of right; defining certain terms; providing that a
depositary bank or a depositary institution and its customer
may agree in writing to a greater period of time than
prescribed by this Act for making funds available for
withdrawal; providing for written notice to a bank's credit
union's, or savings and loan association's customers and for
providing for written disclosure to a bank's, credit
union's, or savings and loan association's prospective
customers of the bank's, credit union's, or savings and loan
association's policy on when funds deposited into an account
may be withdrawn customers may contact the State Banking
Commissioner regarding certain matters; and providing for