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Committee considers repealing 1914 statute on Saturday payment of negotiable instruments
Summary
Senate Bill 331 would repeal a century‑old statute that protected payment of negotiable instruments made on Saturdays and holidays from being treated as illegal; supporters said modern UCC provisions and automated banking make the statute redundant and it carries no fiscal impact.
The committee considered Senate Bill 331, a measure to repeal a 1914 provision that states no law shall be construed to prevent banks from paying checks, drafts or other bills of exchange on Saturday afternoons or legal holidays when such payments would be lawful at other times.
Eileen, speaking for the reviser's office, said…
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