A bill to regulate standby letters of credit, guaranties, surety agreements, and certain acceptances issued by commercial banks.

[AI summary unavailable — showing source text] Prohibits commercial banks from incurring liabilities in excess of their paid-in capital stock plus 50 percent of the amount of their unimpaired surplus fund. Defines the liability of any person to a bank with respect to a time draft drawn by such person and accepted by such bank.…