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LU Policy Number: SS.021
Effective Date: 10/01/2011
Approval Date: 10/01/2011
Revised Date: N/A
Purpose: Handling of bad checks
Additional Authority: N/A
Scope: All Students (COC&CGUS) of Life University
Approval Authority: EVP Finance
Responsible Authority: Student Services
Definitions: N/A
Policy Title
Bad Check Policy
Policy Statement
Any check returned to Life University due to insufficient funds, payment stopped or a closed account may result in disciplinary action against the student, including possible dis-enrollment. The issuance of a check that is returned may constitute deposit account fraud under Georgia law, which is either a misdemeanor or a felony, depending on the circumstances. Punishment for a misdemeanor conviction may include a fine ranging from $100 to $1,000 and imprisonment for a period not to exceed twelve months. Punishment for a felony may include a fine of $1,000 and imprisonment for a period of one to five years.
The issuer of a returned check is subject to a service charge of $50.
Under Georgia law, the University also has the right to file a civil suit against the maker of a returned check for two times the amount of the check not to exceed $500. A second offence may subject the offender to dis-enrollment from the University.
Procedure(s)
N/A
Other Notes
N/A
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