HOUSE BILL No. 6055


     September 16, 1998, Introduced by Rep. Alley and referred to the Committee on Commerce.


        A bill to amend 1980 PA 307, entitled

   "Savings and loan act of 1980,"

   (MCL 491.102 to 491.1202) by adding section 1135.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 1         SEC. 1135.  AN ASSOCIATION SHALL NOT PROVIDE AN INDIVIDUAL

 2    WITH EITHER OF THE FOLLOWING:

 3         (A) AN UNSOLICITED BLANK CHECK THAT WOULD ENABLE THE INDI-

 4    VIDUAL TO INCUR A NEW OR ADDED DEBT BURDEN SOLELY BY IDENTIFYING

 5    A PAYEE AND ENDORSING THE CHECK.

 6         (B) AN UNSOLICITED CHECK IN A FIXED AMOUNT THAT WOULD ENABLE

 7    THE INDIVIDUAL TO INCUR A NEW OR ADDED DEBT SOLELY BY ENDORSING

 8    THE CHECK.








   05990'98 c          Final page.                          DMS