Sec. 134.
Credit construed—The word “credit” as used herein, shall be construed to mean an arrangement or understanding with the bank or depository, for the payment of such check, draft or order, in full, upon the presentation thereof for payment.
History: 1931, Act 328, Eff. Sept. 18, 1931 ;-- Am. 1939, Act 314, Eff. Sept. 29, 1939 ;-- CL 1948, 750.134
Former Law: See section 3 of Act 271 of 1919, being CL 1929, § 12066.
Last modified: October 10, 2016