Policy Number: 126
RETURNED CHECK PENALTY
The penalty for each check returned for whatever reasons shall be $15. The University shall have the right to deny all check-cashing privileges after the return of one such check.
A check presented for payment of University charges which is returned shall not release the payee from any penalties for non-payment of outstanding obligations or the liability for late payment fees.
Approved:
President
February 24, 1993
Monitor: Vice President for Business Affairs