I believe that 101 is spelled out "one hundred one". The word "and" is used to separate the integer part of a number and the fractional part, as in "four and one half". I was not able to find any rule on this though because any self respecting list of rules on the writing of numbers starts by telling us to spell out small numbers (e.g. up to nine) and use numerals for larger numbers (e.g. 101). So the issue of usage of "and" would not be addressed. However, I do know that systems that print checks normally spell out the entire dollar amount and do not include the word "and".