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Indiana Code Title 26. Commercial Law § 26-2-7-6

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 6. (a) This section does not apply to a person who has allowed a check to be dishonored because of lack of funds if both of the following apply:

(1) The person reasonably believed that there were sufficient funds in the account to cover the check.

(2) The insufficiency of funds is caused by the dishonoring of a third party check that had been deposited into the person's account.

(b) If a person liable under this chapter does not pay to the holder the full amount of the check not more than thirty (30) days after the certified mailing of written notice that the check has not been paid, the person is liable for, and the court shall award judgment for, the following, whichever applies:

(1) If the face amount of the check is not greater than two hundred fifty dollars ($250), three (3) times the face amount of the check.

(2) If the face amount of the check is greater than two hundred fifty dollars ($250), the face amount of the check plus five hundred dollars ($500).

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Cite this article: FindLaw.com - Indiana Code Title 26. Commercial Law § 26-2-7-6 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-26-commercial-law/in-code-sect-26-2-7-6/

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