New Jersey Administrative Code
Title 3 - BANKING
Chapter 24 - CHECK CASHING
Subchapter 5 - CONDUCT OF BUSINESS
Section 3:24-5.3 - Return items record
Universal Citation: NJ Admin Code 3:24-5.3
Current through Register Vol. 56, No. 18, September 16, 2024
(a) A return items record shall be maintained in which the following information shall be clearly recorded with respect to each check, draft or money order, returned unpaid:
1. The date on which each check, draft or
money order was originally cashed by licensee;
2. The issuer of each check, draft or money
order;
3. The date of each check,
draft or money order returned unpaid;
4. The name of the drawer of each check,
draft or money order returned unpaid;
5. The name of the payee or last endorser of
each check, draft or money order;
6. The amount of each check, draft or money
order returned unpaid;
7. The name
of the bank on which each check, draft or money order is drawn;
8. The reason for which each check, draft or
money order was returned unpaid;
9.
The date on which each check, draft or money order was redeposited;
10. The date and manner of payment of each
check, draft or money order, with complete details of the disposition made of
it, including a record of the specific check, draft or money order utilized in
the payment of the original item; and
11. A current record, updated (monthly),
showing the efforts and progress being made to collect any unpaid checks,
drafts, or money orders, including the receipt of partial payments.
Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
