Maryland § 5-309
Full text of Maryland Maryland Code § 5-309, with citation guidance and answers to common questions.
§ 5-309.
(a) In this section, “payor institution” means a bank, credit union, or savings and loan association by which an item is payable as drawn or accepted.
(b) As to each account of each depositor in a banking institution, the banking institution shall give to the customer, on opening of the account and on any later demand of the customer, written notice of the time after which the funds represented by an item deposited to the account shall be available for withdrawal as of right, for each of the situations where the banking institution:
(1) Is also the payor institution;
(2) Is located in the same state as the payor institution; and
(3) Is located in a different state from that in which the payor institution is located.
(c) The notice shall also state the time after which the funds represented by an item become available for withdrawal as of right where the item is issued by:
(1) The Maryland State Government or any agency thereof;
(2) The United States Treasury; and
(3) Any agency of the federal government.
(d) The notice shall be printed in type no smaller than elite typewriter characters.
Frequently Asked Questions About Maryland § 5-309
What does Maryland Code § 5-309 cover?
Section 5-309 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 5-309?
A common citation format is "Maryland Code § 5-309" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 5-309 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.