No bank or trust company organized under the laws of this state shall settle any check drawn on it otherwise than at par. The provisions of this section shall not apply with respect to the settlement of a check sent to such bank or trust company as a special collection item. This section is in effect on and after November 1, 1968.
Minn. Stat. § 48.158
SETTLEMENT OF CHECKS AT LESS THAN PAR.
Known as the Interstate Banking Act
The act spans §§ 48–48 (81 sections).
1967 c 156 s 1
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.