205.752 Penalty imposed upon payor for tender of dishonored check.
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<![CDATA[ Page 1 of 1 205.752 Penalty imposed upon payor for tender of dishonored check. If any check tendered to the cabinet is not paid when presented to the drawee bank for <br>payment, there shall be paid as a penalty by the payor who tendered the check, or the <br>payor for whom the check was tendered, upon notice and demand of the cabinet, an <br>amount equal to ten percent (10%) of the check. The penalty under this section shall not <br>be less than ten dollars ($10) or more than twenty-five dollars ($25). If the payor who <br>tendered the check shows to the cabinet's satisfaction that the failure to honor payment of <br>the check resulted from error by parties other than the payor, the cabinet shall waive the <br>penalty. Effective: July 15, 1998 <br>History: Created 1998 Ky. Acts ch. 417, sec. 2, effective July 15, 1998. ]]>