Checks Drawn on Valid Accounts and Deposited With Intent to Draw Funds

1. Law
2. Indiana Code
3. Financial Institutions
4. Financial Services
5. Cashing Checks
6. Checks Drawn on Valid Accounts and Deposited With Intent to Draw Funds

Sec. 18.5. The check in a check cashing transaction, to the best of the licensee's knowledge, must be drawn on a valid, open, and active account and must be deposited by the licensee into a financial institution with the intent to draw the funds of that check.

As added by P.L.80-1998, SEC.24.

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