Text: HSB00049                          Text: HSB00051
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Bills and Amendments: General Index     Bill History: General Index

House Study Bill 50

Bill Text

PAG LIN
  1  1    Section 1.  Section 554.3512, subsection 1, Code 2003, is
  1  2 amended to read as follows:
  1  3    1.  The holder of a dishonored check, draft, or order may
  1  4 assess against the maker of that check, draft, or order a
  1  5 surcharge of not more than the greater of twenty thirty
  1  6 dollars or five percent of the face value of the check.
  1  7 However, the amount of the surcharge shall not exceed twenty
  1  8 thirty dollars unless the check, draft, or order was presented
  1  9 twice or the maker does not have an account with the drawee.
  1 10 If the check, draft, or order was presented twice or the maker
  1 11 does not have an account with the drawee, the amount of the
  1 12 surcharge shall not exceed fifty dollars.  
  1 13                           EXPLANATION
  1 14    This bill amends Code section 554.3512 in Article 3 of the
  1 15 Uniform Commercial Code regulating negotiable instruments
  1 16 (providing a promise to pay an amount of money payable to the
  1 17 bearer upon demand or at some definite time).  The bill
  1 18 increases the surcharge that may be assessed against checks,
  1 19 drafts, or orders which are dishonored from $20 to $30.  
  1 20 LSB 2085HC 80
  1 21 da/sh/8

Text: HSB00049                          Text: HSB00051
Text: HSB00000 - HSB00099               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

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