Ask Reggi Your Question Now
Can you summarize MSCO 97-19-57?
False Pretenses and Cheats > Bad checks, electronically converted checks, electronic commercial debits; presumption of fraudulent intent; notice that check or electronic fund transfer has not been paid; notice returned undelivered as evidence of intent to defraud; transactions involving motor vehicles.
Short Summary
This legal document, as part of the Mississippi Code 1972, governs the making, drawing, issuing, uttering, delivering, or initiation of various payment methods such as checks, drafts, orders, electronically converted checks, or electronic commercial debit payments. It applies to the maker, drawer, or payor of the check or electronic fund transfer. The document establishes a presumption of intent to defraud and knowledge of insufficient funds if the payment is refused by the drawee and the maker, drawer, or payor fails to pay the amount due within fifteen days after receiving notice of non-payment. The notice must be sent by regular mail and include specific information about the dishonored instrument. Failure to pay within the specified time may result in criminal prosecution. Additionally, if the notice is returned undelivered, it serves as evidence of the maker’s or drawer’s intent to defraud. The document also covers transactions involving motor vehicles. The service charge for non-payment is Forty Dollars ($40.00).
Whom does it apply to?
Maker, drawer, or payor of the check or electronic fund transfer
What does it govern?
Making, drawing, issuing, uttering, delivering, or initiation of a check, draft, order, electronically converted check, or electronic commercial debit payment
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Presumption of intent to defraud and knowledge of insufficient funds, service charge of Forty Dollars ($40.00)
Jurisdiction
Mississippi