South Dakota § 57A-3-421 Collection costs and expenses--Liability of issuer of dishonored check.

South Dakota Statutes

§ 57A-3-421 — Collection costs and expenses--Liability of issuer of dishonored check.

South Dakota·Title 57A UNIFORM COMMERCIAL CODE·Ch. 57A NEGOTIABLE INSTRUMENTS

If a merchant or place of business conspicuously posts a notice on its premises or if a merchant or place of business regularly extends credit and prints a notice on its customer statements of such size and location as to be conspicuous, stating that a fee will be assessed against returned checks, any person who issues a check or other draft to the merchant or place of business that is not honored for any of the following reasons upon presentment is liable for all reasonable costs and expenses of collection:

(1)The drawer's account is closed;

(2)The drawer's account does not have sufficient funds; or (3) The drawer does not have sufficient credit with the drawee. The costs and expenses provided for in this section are reasonable if they do not exceed sixty dollars plus any appli

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If a merchant or place of business conspicuously posts a notice on its premises or if a merchant or place of business regularly extends credit and prints a notice on its customer statements of such size and location as to be conspicuous, stating that a fee will be assessed against returned checks, any person who issues a check or other draft to the merchant or place of business that is not honored for any of the following reasons upon presentment is liable for all reasonable costs and expenses of collection: (1) The drawer's account is closed; (2) The drawer's account does not have sufficient funds; or (3) The drawer does not have sufficient credit with the drawee. The costs and expenses provided for in this section are reasonable if they do not exceed sixty dollars plus any applicable sales tax.

South Dakota § 57A-3-421 (Collection costs and expenses--Liability of issuer of dishonored check.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.