Skip to Main Content

605 - Returned Checks

 

I.          OBJECTIVE

To establish a policy for the return of checks or ACH transactions by the bank for non-sufficient funds (NSF) and other reasons and to set forth appropriate penalties.

II.         CONTENT

A.In the event payment of electric energy bills are made by check or ACH transaction and payment is refused by the bank on which they were drawn, the following shall apply:

1.The member-consumer shall be charged $40.00 for each returned check or ACH transaction.

 

2.The member-consumer shall be notified by letter that the energy account is considered as "not paid" and will be treated as a late payment and/or delinquent account.

 

3.If any member-consumer has two (2) or more checks and/or ACH transactions not honored by the bank in any twelve (12) month period, the Cooperative may require all future energy payments be made by cash, credit card, bank draft or postal money orders.

III.       RESPONSIBILITY

The General Manager is responsible for administering this policy and for recommending to the Board any changes deemed necessary.

EFFECTIVE DATE:   January 1, 2017

DATE ADOPTED:     March 28, 2000

DATE REVISED:       December 18, 2008

DATE REVISED:       November 21, 2012

DATE REVIEWED:   December 18, 2014

DATE REVISED:       November 23, 2016

ATTESTED:   __________________________________

Chris Hofer, Secretary