WHAT HAPPENS WHEN A COMPANY ISSUES A CHECK TO THE BOARD OFFICE THAT HAS BEEN RETURNED MARKED “NSF”?
A letter is sent to the company by certified mail. The company has 10 days to replace the check. We must have 2 money orders or cashiers check. One must be for $25.00 fine and one must be for the amount of the NSF check. If a company has two NSF checks that company then must pay only with a money order or cashiers check for a period of one year.
A letter is sent to the company by certified mail. The company has 10 days to replace the check. We must have 2 money orders or cashiers check. One must be for $50.00 fine and one must be for the amount of the NSF check. If a company has two NSF checks that company then must pay only with a money order or cashiers check for a period of one year.
Related Questions
- Insolvency FAQ # 5 - What happens if a company director receives a notice from the tax office? Can a company director be personally liable for the debts of the company?
- What happens if my checks are returned to USAVoucherChecks by the Post Office or UPS?
- What happens if my check is returned to the Clerks office (NSF and returned checks)?
