![]() |
|
Bad Checks: Any person who allows a check to be dishonored by a financial institution because of the lack of funds, failure to have an account or lack of an authorized signature of the drawer or a necessary endorser, is generally liable for the face amount of the check, interest at the rate of eighteen percent (18%) per annum, attorney fees of not less than $100.00, and costs and expenses incurred for the collection of the dishonored check. (Indiana Code 26-2-7-5.) If the person liable for a dishonored check failed to pay the holder of the check within thirty (30) days of the mailing of a written notice, by certified mail, that the check has been dishonored, he may be further liable for treble damages up to the maximum amount of $500.00. (Indiana Code 26-2-7-6.) |
|