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NC S529

Bill

Official Source

Status

Passed

7/5/2019

Primary Sponsor

Richard Gunn

Click for details

Origin

Senate

2019-2020 Session

AI Summary

  • Increases the maximum processing fee for returned checks from $25.00 to $35.00 under North Carolina General Statute 25-3-506
  • Applies to checks refused for insufficient funds or when the drawer did not have an account at the payor bank
  • Requires collection agencies to separately state the processing fee on collection notices and prohibits collecting any amounts other than the actual check amount and specified processing fee
  • Becomes effective October 1, 2019, and applies to checks dated on or after that date
  • Became law July 5, 2019, after the Governor failed to sign within the prescribed timeframe

Legislative Description

Fees/Returned Checks

Last Action

Ch. SL 2019-77

7/5/2019

Committee Referrals

Rules, Calendar, and Operations of the House6/11/2019
Banking5/20/2019
Rules, Calendar, and Operations of the House5/9/2019
Rules and Operations of the Senate5/2/2019
Commerce and Insurance5/1/2019
Rules and Operations of the Senate4/3/2019

Full Bill Text

No bill text available