MS HB1126

Exempts active and retired public employees in the Mississippi Public Employees' Retirement System (PERS) or Mississippi Highway Safety Patrol Retirement System (MHSPRS) from bad check fees and processing penalties when their account overdraft was solely caused by an employer or retirement system error in direct deposit timing.

Requires three conditions for the exemption: employee receives compensation via direct deposit, the overdraft resulted only from a deposit error by employer or retirement system, and the employee had no notice of the error before making the withdrawal transaction.

Amends sections 81-14-365, 97-19-57, 73-9-43, 73-34-45, 73-35-17, 73-60-29, and 75-67-122 to eliminate bad check fees for exempted employees across savings banks, dental boards, real estate appraisers, real estate brokers, home inspectors, and licensed lenders.

Effective July 1, 2015.