Rhode Island General Laws 36-10-9.7. Electronic funds transfer
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All members of the employees retirement system retiring under the provisions of titles 42, 8, 36 or 16 of the Rhode Island general laws on or after July 1, 1998, shall be required to participate in electronic funds transfer and to supply the employees retirement system with a bank routing number to effectuate a monthly transfer of benefits.
History of Section.
P.L. 1998, ch. 81, § 1.
Terms Used In Rhode Island General Laws 36-10-9.7
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC