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What happens if the payment is deemed non-sufficient by the financial institution?

April 26, 2017deemed financial institution happens non-sufficient payment

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What happens if the payment is deemed non-sufficient by the financial institution?

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If there is a non-sufficient fund payment, then Administrative Rule 18 NCAC 04 .0204 – Cancellation for nonpayment, will apply to any Notice or Renewal Notice received. The rule states that after the filing of any document, if the Division determines that the payment of fees and taxes tendered is for any reason insufficient; and, after notice and reasonable opportunity is given to the proper party to submit payment, it is determined that proper payment has not been made, the Secretary of State shall, by appropriate certificate, cancel such filing with a notation that the filing was an error.