Page:United States Statutes at Large Volume 53 Part 2.djvu/90

 PUBLIC LAWS-CH. 37-APR. 5, 1939 [CHAPTER 37] AN ACT April 5,1939 AN ACT Is. 794] Relating to banking, banks, and trust companies in the District of Columbia, [Public, No. 20] and for other purposes. Be it enacted by the Senate and House of Representatives of the District of Colum- United States of America in Congress assembled, That where a check Banking,bksand or other instrument payable on demand at any bank or trust company Time lmitation for doing business in the District of Columbia is presented for payment and othetr demand mo re than one year from its date, such bank or trust company may, instruments. unless expressly instructed by the drawer or maker to pay the same, refuse payment thereof, and no liability shall thereby be incurred to the drawer or maker for dishonoring the instrument by nonpayment. Recogniton of ad- SEC. 2. Notice to any bank or trust company doing business in the deposits. District of Columbia of an adverse claim to a deposit standing on its books to the credit of any person shall not be effectual to cause said bank or trust company to recognize said adverse claimant unless said adverse claimant shall also either (1) procure a restraining order, injunction, or other appropriate process against said bank or trust company from a court of competent jurisdiction in a cause therein instituted by him wherein the person to whose credit the deposit stands is made a party and served with summons; or (2) execute to such bank or trust company, in form and with sureties acceptable to it, a bond indemnifying said bank or trust company from any and all liability, loss, damage, costs, and expenses, for and on account of the payment of such adverse claim or the dishonor of the check or other order of the person to whose credit the deposit stands on the books of said DePitto redit of bank or trust company: Provided, That this section shall not apply fiduci° of adverse to any instance where the person to whose credit the deposit stands claant. is a fiduciary for such adverse claimant, and the facts constituting such relationship, together with the facts showing reasonable cause of belief on the part of the said claimant that the said fiduciary is about to misappropriate said deposit, are made to appear by the affidavit of such claimant. Ltorabity to deposi- SEC. 3. (a) No bank or trust company doing business in the District forged, etc., checks. of Columbia, which has paid and charged to the account of a deposi- tor any money on a forged, altered, or raised check issued in the name of said depositor shall be liable to said depositor for the amount paid thereon unless either (1) within one year after notice to said depositor that the vouchers representing payments charged to the account of said depositor for the period during which such payment was made are ready for delivery, or (2), in case no such notice has been given, within six months after the return to said depositor of the voucher representing such payment, said depositor shall notify the bank or trust company that the check so paid is forged, altered, or raised. Notice to depositor. (b) The notice referred to in subsection (a) may be given by mail to said depositor at his last-known address with postage prepaid. Duty of depositor (C) This section shall not be construed to relieve a depositor from to examine returned vouchers, etc. due diligence in the examination of returned vouchers or in otherwise discovering that a check has been forged, altered, or raised, or in notifying the bank or trust company of his actual discovery of a forgery or alteration. "check" defined. (d) When used in this section the word "check" shall also include drafts, notes, acceptances, or other negotiable instruments payable at a bank or trust company, and the word "forged" shall also include an unauthorized signature by an agent or officer of a depositor. dorfe ent. (e) The provisions of this section shall not be held to apply to the forgery of an endorsement. 566 [53 STAT.

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