Senate Bill 177 Summary

• Amends 21 O.S. 2011, Section 1541.4 to expand the definition of "false or bogus check" to include checks or orders given in exchange for any benefit or thing of value, not just money or property.

• Defines bogus checks as those not honored due to insufficient funds, closed accounts, or nonexistent accounts when given: (1) in exchange for money or property; (2) in exchange for any benefit or thing of value; or (3) as a down payment for immediate purchase of goods.

• Maintains existing prima facie evidence of fraud if the maker fails to pay the drawee within 5 days of presentment and the check is presented within 30 days of delivery.

• Clarifies that a check offered for purchase of goods or livestock is not an extension of credit by the seller to the check maker.

• Adds new provision allowing merchants to debit accounts or impose other charges on dishonored checks without the check being classified as an extension of credit.

• Effective date: November 1, 2013.