Rule 113-1-03 | Procedures for checks not accepted for deposit.
(A) Upon the return of a deposit item, the treasurer shall give electronic notification of such return to the state entity that submitted the item for deposit. The state entity shall reimburse the state treasury for the amount of the returned item. Reimbursement may be by negative revenue pay-in document, or reduction of revenue pay-in document. If reimbursement is not otherwise made, the treasurer shall prepare and process a revenue modification document in the amount of the returned item.
(B) For state entity bank accounts so designated by the treasurer, the treasurer may instruct the bank to return checks that were not accepted for deposit directly to the state entity. In this case, the state entity is to deduct the returned item from the pay-in document for the state entity's deposit in that account for the same business day.
Last updated February 16, 2023 at 8:30 AM
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