§ 28-8-5-17 — Check cashing fee limitations

Indiana § 28-8-5-17

• Jurisdiction: Indiana
• Art. 8: FINANCIAL SERVICES
• Ch. 5: Cashing Checks

Text

(a) Except as otherwise provided in this
chapter, a licensee may not charge check cashing fees in excess of:
(1) the greater of ten dollars ($10) or ten percent (10%) of the
face amount of a check, in the case of a personal check; or
(2) the greater of five dollars ($5) or five percent (5%) of the face
amount of a check, in the case of all other checks.
(b) Except as provided in this chapter, a licensee or the licensee's
agent may not accept multiple checks from a:
(1) person;
(2) person's spouse; or
(3) person's agent;
drawn on the person's account with the intent that the licensee may
collect multiple or increased fees for cashing the checks.

Legislative History

As added by P.L.42-1993, SEC.86. Amended by P.L.80-1998, SEC.23; P.L.213-2007, SEC.88; P.L.217-2007, SEC.86.