Chapter 167D of the General Laws is hereby amended by inserting after section 27, the following section:—
Section 27A Any bank, as defined by section 1, or credit union chartered in the commonwealth shall have the obligation to settle, as defined in clause (11) of section 4—104 of chapter 106, with any patron who presents a negotiable or transferable instrument which has been issued by the commonwealth or any municipality within the commonwealth. The bank or credit union shall have this obligation whether or not the patron is a customer the bank or credit union as defined in clause (5) of said section 4—104.
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