GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION LAW 2019-77
SENATE BILL 529
AN ACT to increase the maximum processing fee for returned checks.
The General Assembly of North Carolina enacts:
SECTION 1.(a) G.S. 25‑3‑506 reads as rewritten:
A person who accepts a check in
payment for goods or services or
his the person's assignee may
charge and collect a processing fee, not to exceed twenty‑five dollars
($25.00), thirty‑five dollars ($35.00), for a check on which
payment has been refused by the payor bank because of insufficient funds or
because the drawer did not have an account at that bank.
If a collection agency collects or
seeks to collect on behalf of its principal a processing fee as specified in
this section in addition to the sum payable of a check, the amount of
processing fee must shall be separately stated on the
collection notice. The collection agency shall not collect or seek to collect
from the drawer any sum other than the actual amount of the returned check and
the specified processing fee."
SECTION 1.(b) This act becomes effective October 1, 2019, and applies to checks dated on or after that date.
In the General Assembly read three times and ratified this the 21st day of June, 2019.
s/ Bill Rabon
Presiding Officer of the Senate
s/ David R. Lewis
Presiding Officer of the House of Representatives
This bill having been presented to the Governor for signature on the 24th day of June, 2019 and the Governor having failed to approve it within the time prescribed by law, the same is hereby declared to have become a law. This 5th day of July, 2019.
s/ Karen Jenkins