May 18-19, 2000

 

ITEM 107-106-R0500          Delete Policy

Montana Board of Regents of Higher Education

Policy and Procedures Manual

Policy 940.15

Returned Check Fee

 

THAT:                                   The Board of Regents approves the deletion of Policy 940.15 from the Montana Board of Regents Policy and Procedures Manual.

 

EXPLANATION:                 The current policy prescribes the fee that is to be charged by the campuses of the Montana University System when a check is returned by a bank for insufficient funds.  The campuses are charged different fees by their financial institutions and the current $15 dollars does not always cover the financial institution charges.  The returned check fee is assessed to other campus customers besides students.  This policy restricts each campus’s ability to recover amounts necessary to cover their expenses related to checks returned for insufficient funds.