Effective 01 Jan 2017, see footnote
570.220. Check kiting — collected funds defined — penalty. — 1. A person commits the offense of check kiting if he or she, with intent to defraud, obtains money from a financial institution by drawing a check against an account in which there is not sufficient collected funds to pay the check and, he or she purports to cover that check by depositing in such account another check drawn against insufficient collected funds.
2. For purposes of this section, the term "collected funds" means that portion of a deposit account representing checks and other credits as to which the depositary has directly and affirmatively verified that final payment has been made or, in the alternative, with respect to checks as to which at least ten business days have elapsed, without return of the checks, since presentation for payment.
3. The offense of check kiting is a class E felony.
--------
(L. 1985 H.B. 408 § 570.210, A.L. 2014 S.B. 491)
Effective 1-01-17
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.