Southern Polytechnic State University P & P No.: 780.0
Policy and Procedure Manual Date: February 1985
  Revised: April 1997
 
Returned Check Charges

A check accepted by Southern Polytechnic State University that is not paid by the payor's bank and is returned to the university will be considered a returned check.

A charge of fifteen dollars or five percent of the face amount of the check, whichever is greater, will be assessed on all returned checks. One exception is permitted. This exception will be a documented bank error. The acceptable documentation will be a letter from the bank stating the error was the bank's and not the payor's.

Returned checks may result in criminal prosecution according to the Official Code of Georgia Annotated - Code Section 16-9-20.

Late fees may apply to returned checks. The policy on late fees will define these circumstances.