Common use of Choice of Law Disclosure Clause in Contracts

Choice of Law Disclosure. We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses (ACH) and which are not subject to the Electronic Funds Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by laws of the state of Maryland as provided by the operating rules of the National Clearing House Association, which are applicable to ACH transactions involving your account. In accordance with these rules, we will not provide you with next day notice of receipt of ACH transfers to your account. You will continue to receive notices of receipt of ACH items in the periodic account statements which we provide.