HB 6005

Abstract

Amends the Uniform Commercial Code. Provides that any person who issues a converted check, electronic funds transfer, or order for the payment of money (in addition to any person who issues a check or other draft) that is not honored upon presentment because the drawer does not have an account with the drawee, or because the drawer does not have sufficient funds in his account, or because the drawer does not have sufficient credit with the drawee, shall be liable in the amount of $25, or for all costs and expenses, including reasonable attorney's fees, incurred by any person in connection with the collection of the amount for which the converted check, electronic funds transfer, or order for the payment of money was written, whichever is greater, and shall be liable for interest upon that amount. Provides that a person who undertakes a nonlitigated collection against the person who issued a converted check, electronic funds transfer, or order for the payment of money that is not honored upon presentment shall make a written demand by certified mail, return receipt requested, delivered to the last known address of that person in order to become eligible for any costs and expenses in excess of $25. Authorizes assessment of a fee or charge not to exceed $4.50 to any person or owner of a commercial checking account or other similar commercial account where a converted check, electronic funds transfer, or order for the payment of money that is deposited into the account is dishonored upon presentment because of insufficient funds or because the drawer does not have an account with the drawee.