Sec. 8. (a) A person who has allowed a check to be dishonored is not liable under this chapter if, not more than ten (10) days after the holder has given notice that the check has not been paid by the financial institution, the person pays to the holder the full amount of the check.
(b) A payment made under subsection (a) is effective for all purposes as of the date the payment is made.
As added by P.L.42-1993, SEC.18.
Structure Indiana Code
Article 2. Commercial Transactions
Chapter 7. Penalties for Stopping Payments or Permitting Dishonor of Checks and Drafts
26-2-7-2. Financial Institution
26-2-7-3. Notice of Nonpayment
26-2-7-4. Liability for Stopping Payment or Permitting Dishonor of Checks
26-2-7-5. Extent of Liability for Stopping Payment or Permitting Dishonor of Checks
26-2-7-6. Liability for Continued Nonpayment of Checks
26-2-7-7. Election of Remedies
26-2-7-8. Exemption From Liability for Permitting Dishonor of Checks