Text: HSB00515 Text: HSB00517 Text: HSB00500 - HSB00599 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 554.3512, subsection 2, Code 2001, is
1 2 amended to read as follows:
1 3 2. The surcharge authorized by this section shall not be
1 4 assessed unless the holder clearly and conspicuously posts a
1 5 notice at the usual place of payment, or in the billing
1 6 statement of the holder, stating that a surcharge will be
1 7 assessed, when and how the surcharge will be assessed, and the
1 8 amount of the surcharge. However, the surcharge shall not be
1 9 assessed against the maker if the reason for the dishonor of
1 10 the check, draft, or order is that the maker has stopped
1 11 payment pursuant to section 554.4403.
1 12 EXPLANATION
1 13 This bill amends Code section 554.3512, relating to the
1 14 holder's recourse for dishonored checks. The bill requires
1 15 that the holder's notice of surcharge must also include when
1 16 and how the surcharge will be assessed. Current Code language
1 17 requires only notice of the fact that a surcharge for a
1 18 dishonored check, draft, or order will be imposed, and the
1 19 amount of the surcharge.
1 20 LSB 5791HC 79
1 21 jj/cls/14
Text: HSB00515 Text: HSB00517 Text: HSB00500 - HSB00599 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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