2010 Michigan Compiled Laws
Chapter 488 - ELECTRONIC FUNDS TRANSFERS
Act 322 of 1978 - ELECTRONIC FUNDS TRANSFERS (488.1 - 488.31)
Section 488.18 - Statement of customer's account; frequency; contents.
ELECTRONIC FUNDS TRANSFERS (EXCERPT)Act 322 of 1978
488.18 Statement of customer's account; frequency; contents.
Sec. 18.
A financial institution shall provide each customer with a statement of the customer's account accessible through an electronic funds transfer terminal. The statement shall be provided not less than once a month in which an electronic fund transfer occurs, or annually, whichever is more frequent. The statement shall contain a brief description of each transaction made through an electronic funds transfer terminal. The description shall be sufficient to enable the customer to identify any transaction and to relate it to a receipt pursuant to section 17.
History: 1978, Act 322, Eff. Jan. 1, 1979
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