Chapter 2. Accounting Services
Section 2.8. Accounts Receivable

2.8.2.9. Returned Checks

The makers of all draft instruments, which are returned by a Depository because of insufficient funds or similar reason:

1. Will be charged $25.00 for each instrument for seven business days, after that an additional $10.00 charge will be assessed.



2. The payer will be subject to any applicable penalty, late fee, etc. until such time as the check is made good, if the draft represents a payment by the maker of an obligation to the University.



3. Will be sent a Notice for Demand of Payment. If no response is received with 30 days from date of letter, it will be sent to collections.



4. May lose their privilege to use such instruments at the University.

Additionally, the University may report such conduct to the proper law enforcement authorities for legal action under the statutes of the State of Michigan.