Description: Bad checks; business may not sell to collecting entity until run through bank twice.
History of Actions:
|1||01/20/97||(H)||Referred To Banks and Banking|
|2||02/04/97||(H)||Died In Committee|
|Effective date||July 1, 1997|
|Deadline||General Bill/Constitutional Amendment|
|3/5ths vote required||No|
Principal Author: Ellis
Title: AN ACT TO PROVIDE THAT A BUSINESS ENTITY MAY NOT SELL BAD CHECKS RECEIVED BY THE ENTITY IN THE COURSE OF ITS BUSINESS TO A CHECK COLLECTING ENTITY UNTIL AFTER THE BUSINESS ENTITY HAS PRESENTED THE CHECKS FOR PAYMENT AT A DEPOSITORY INSTITUTION AT LEAST ONE ADDITIONAL TIME; TO DEFINE "CHECK COLLECTING ENTITY"; AND FOR RELATED PURPOSES.
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