Deposited checks that do not clear the bank the first time will be automatically processed by the bank a second time. If the
check still does not clear, the bank will return the check to the Bursar's Office. The Bursar's Office will determine the account to
which the check was originally credited and will either start collection activity on the bad check or return the check to the
appropriate department for their collection. A "no check" indicator will be placed on the student's account indefinitely.
The Board of Regents approved the following policy effective July 1, 1992: "A charge of $30.00 will be made to a debtor's account
for each check, draft, money order or other payment instrument which fails to clear the financial institution upon which the instrument
is drawn. A $30.00 charge will be assessed by the University department that is responsible for collection of the dishonored items.
All subsequent payments received by the University in settlement of debt will be applied first to the returned check fee, if applicable,
and then to the original amount owed. The University reserves the right to require payment by cash, money order or cashier's check for
settlement of a debt after the initial payment has been dishonored."