FL H1369

Stop-payment orders remain in effect permanently unless the bank receives written notification of cancellation and payment of any applicable cancellation fee from the customer or authorized account holder

Banks may charge only a single fee for a stop-payment order to remain in effect permanently, eliminating the previous requirement to renew orders every 6 months

Notice of postdating checks follows the same permanent effectiveness rules as stop-payment orders, with renewal allowed for additional 6-month periods by written notice to the bank

Banks remain liable to customers for actual losses resulting from wrongful payment contrary to a valid stop-payment order, with the customer bearing the burden of proving the fact and amount of loss

The act takes effect July 1, 2013