Legal Question in Banking Law in Maryland

stop payment by employer in a salary account

hello,

My salary account was credited with my salary on 2 May and on 3 May there was a stop payment by my employer for the same amt. Now can you please tell me after the payment was posted to my bank account can the bank on employers request put a stop payment ?

I though stop payment can be done only on a cheque which has not cleared, right ?

Can someone please help me in this matter.

Thank you.


Asked on 5/06/03, 4:54 pm

1 Answer from Attorneys
G. Joseph Holthaus III Law Offices of G. Joseph Holthaus

Re: stop payment by employer in a salary account

Any transaction held on conditional deposit can be revoked through the automated check clearing process. Once provisional credit has been settled, the other party does not have a right to offset the depositary account. I do not know what stage your transaction was at. If you need assistance, contact me.

G. Joseph Holthaus

(410) 799-9002

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Answered on 5/06/03, 7:42 pm


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