An employer shall not pay employees with any form of evidence of indebtedness, including all scrip, vouchers, due bills, or store orders, unless the employer is in compliance with one or both of the following:
(1) The employer is a cooperative corporation in which the employee is a stockholder, in which case, the cooperative corporation shall, upon request of any shareholding employee, pay the shareholding employee as provided in section 342 of this title.
(2) Payment is made by check as defined in Title 9A or by an electronic fund transfer as provided in section 342 of this title. Amended 1977, No. 244 (Adj. Sess.), § 4, eff. May 1, 1978; 2009, No. 115 (Adj. Sess.), § 1, eff. May 21, 2010.