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This entry was published on 2014-09-22
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SECTION 96-B
Payroll payment by banks or trust companies
Banking (BNK) CHAPTER 2, ARTICLE 3
§ 96-b. Payroll payment by banks or trust companies. l. Every bank
and trust company shall have the power to enter into contracts with any
municipal corporation, school district, district corporation, town or
county improvement district, public authority, or public corporation to
receive in a single payment, for each pay period, the total payroll of
such corporations, districts or authorities and deposit the same in
accordance with the terms of such contract, which shall include
provision for deposits for withholding, retirement and insurance, if
any.

2. The amount due each employee shall be disbursed or credited in
accordance with the directions of each employee to saving or checking
accounts, or loan or mortgage accounts within such bank or trust company
or to a single account in another bank or trust company or savings bank
or savings and loan association or may be payable in cash or by check to
such employee.