![]() ![]() ![]() Nothing in this section shall be applicable to any criminal case or affect eligibility or terms of probation. Such notice in writing shall be given by certified mail, return receipt requested, to the person at his address as it appears on such check or draft.į. "Notice", as used in this section, means notice given to the person entitled thereto, either in person, or in writing. Where a check, draft or order is protested, on the ground of insufficiency of funds or credit, the notice of formal protest thereof shall be admissible as proof of presentation, nonpayment and protest and shall be prima facie evidence of the insufficiency of funds or credit with the bank or depositary, or person, or firm or corporation.Į. Proof that, at the time of presentment, the maker, issuer or drawer did not have sufficient funds with the bank or depositary, and that he failed within twelve days after receiving notice of nonpayment or dishonor to pay the check or draft is prima facie evidence of intent to defraud.ĭ. The word "credit" as used in this section shall be construed to be an express agreement with the bank or depositary for payment of the check or draft.Ĭ. A person who, for himself or for another, with intent to defraud, makes, draws, utters or delivers to another person or persons a check or draft on a bank or depositary for payment of money, knowing at the time of such making, drawing, uttering or delivery, that he or his principal does not have an account or does not have sufficient funds in, or credit with, such bank or depositary to meet the check or draft in full upon presentation, shall be liable to the holder of such check or draft for twice the amount of such check or draft or fifty dollars, whichever is greater, together with costs and reasonable attorney's fees as allowed by the court on the basis of time and effort expended by such attorney on behalf of plaintiff.ī. Drawing check or draft on no account or insufficient account with intent to defraud civil action definition of credit prima facie evidenceĪ. Otherwise, it can be endorsed by the payee of the draft and can be deposited into the account of person. However, if it is marked Account Payee only, then it can only be deposited into the account of person in whose favor draft has been issued. Once you receive a share draft account, you are eligible for an Attleboro Municipal Employees Federal Credit Union debit card.12-671 - Drawing check or draft on no account or insufficient account with intent to defraud civil action definition of credit prima facie evidenceġ2-671. Answer (1 of 3): A draft is a negotiable instrument. ![]() Stop in and we’ll be happy to open your share draft account and give you more information. There is no better way to manage your money than with a no-charge share draft account from the Attleboro Municipal Employees Federal Credit Union. This service is free! There is no monthly service charge and no limit on the number of drafts you can write. Also, overdraft transfer options are available to provide back-up funds when you are low. Once each month, we’ll send you an account statement showing the number of each draft written, the amount and the date. When you write your check, you automatically make a copy of it for your own record. Money can be deposited into your share draft account through payroll deduction, direct deposit, mail, or teller window. Each draft is filled out in the usual way to the payee, in the exact amount, dated, and signed by you. When you open a share draft account, you’ll get a book of share drafts (checks) that gives you use of your funds anytime, anywhere. We pay you dividends (interest) on the unused balance – just like your regular share account. All you have to do is maintain a low $100 minimum balance. In your share draft account, your dollars can earn dividends. Share drafts at the Attleboro Municipal Employees Federal Credit Union are like a regular checking account with some important differences. By accepting the draft, the Drawee Bank signifies its commitment to pay the face amount at maturity to anyone who presents it at maturity. We know what you’re thinking, but we want you to know… They’re better than the account you are using now. We call them Share Draft (Checking) accounts. Automatic transfer from the members secondary savings account in the exact amount of the shortfall of funds in their draft account to cover clearing drafts. Our checking accounts meet the Basic Banking for Massachusetts guidelines. While our Share Draft/Checking account has no minimum balance requirement, you can enjoy NO MONTHLY SERVICE CHARGES as well. A share draft account designed for young adults ages 16-25, with many bonus savings options to prepare you for the life ahead. ![]()
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