Mich. Comp. Laws § 488.20

Current through Public Act 151 of the 2024 Legislative Session

Section 488.20 - Options to promote security of electronic fund transfers

In order to promote the security of electronic fund transfers, financial institutions shall make available to customers:

(a) Options to limit the total amount of cash which can be withdrawn through the use of an electronic funds transfer terminal, from a customer's account in any single day. The options shall include, but need not be restricted to, a limit of $50.00.

(b) An option to limit access through an electronic funds transfer terminal to 1 or more specified accounts.

MCL 488.20

1978, Act 322, Eff. 1/1/1979.