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EIU Office of Internal Auditing

#126 - Returned Check Penalty

Approved: February 24, 1993

Monitor: Vice President for Business Affairs

The penalty for each check returned for whatever reasons shall be $15. The University shall have the right to deny all check-cashing privileges after the return of one such check.

A check presented for payment of University charges which is returned shall not release the payee from any penalties for non-payment of outstanding obligations or the liability for late payment fees.

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