Text: SSB01060 Text: SSB01062 Text: SSB01000 - SSB01099 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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 oftwentythirty 1 6 dollars or five percent of the face value of the check. 1 7 However, the amount of the surcharge shall not exceedtwenty1 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 2085SC 80 1 21 da/sh/8
Text: SSB01060 Text: SSB01062 Text: SSB01000 - SSB01099 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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