7-14-2 - Legislative findings.
7-14-2. Legislative findings.
The substantial financial loss to the state and to trade and commerce within this stateresulting from the dishonor or other return of checks, drafts, or other orders for the payment ofmoney, including transactions to be consummated by electronic means, requires concerted effortby financial institutions to attempt to minimize the number of such occurrences. The Legislaturefinds that to facilitate such concerted effort adequate protection against liability of theparticipating financial institutions is necessary.
Enacted by Chapter 16, 1981 General Session