Chapter 167 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by inserting after section 46 the following section:-

Section 46A. Requirement that a bank honor and cash a check drawn on the bank

A bank doing business in the commonwealth, which for the purposes of this section shall include any bank, except an internet bank as defined in section one and any national bank, national banking association, federal savings bank, federal savings and loan association and federal credit union, shall honor and cash a check drawn on the bank presented by any person, whether or not the person has an account in the bank and without charging a fee, if the following conditions are met: (1) the person presenting the check provides adequate information for identification purposes; (2) the bank has no reason to suspect that the check is forged; and (3) the check is for an amount not exceeding $2,500 dollars. Any bank which fails to cash a check in accordance with this section or which otherwise violates the provisions of this section or any regulations promulgated thereunder shall be punished by a fine of not more than $500 for each such violation.