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Can you summarize 44 AZRS Chapter 23?
Trade and Commerce > DISHONORED CHECK FEESSec: 44-6851-44-6852
Short Summary
The provided legal document content pertains to dishonored check fees governed by the Arizona Revised Statutes. It applies to persons involved in check transactions, including financial institutions, drawers, makers, payees, and holders. The document defines key terms such as ‘check,’ ‘draft,’ ‘drawer,’ ‘financial institution,’ ‘holder,’ ‘maker,’ ‘order,’ and ‘payee.’ There are no exemptions mentioned in the document. Penalties for dishonored checks may include payment of the amount of the check, court costs, reasonable attorney fees, and a service charge not exceeding $25 or 5% of the face amount of the check, whichever is greater. Additionally, the holder, payee or assignee of the holder or payee of a dishonored check, draft, order or note may charge and collect from the maker or drawer a service fee of not more than $25 plus any actual charges assessed by the financial institution of the holder, payee or assignee of the holder or payee as a result of the dishonored instrument.
Whom does it apply to?
Persons involved in check transactions, including financial institutions, drawers, makers, payees, and holders
What does it govern?
Dishonored check fees
What are exemptions?
No exemptions mentioned
What are the Penalties?
Payment of the amount of the check, court costs, reasonable attorney fees, and a service charge not exceeding $25 or 5% of the face amount of the check, whichever is greater. Additionally, the holder, payee or assignee of the holder or payee of a dishonored check, draft, order or note may charge and collect from the maker or drawer a service fee of not more than $25 plus any actual charges assessed by the financial institution of the holder, payee or assignee of the holder or payee as a result of the dishonored instrument.
Jurisdiction
Arizona