Legal Question in Banking Law in Florida
Returned Check, Uncollected Funds
Under Florida State law, if a check my business received was returned as ''UNCOLLECTED FUNDS HOLD'' am I legally able to pursue as I would ''NSF'', or must I redeposit the check first? I have called the bank it was drawn on and they have confirmed there are NOT funds in the account to cover the check at the present time, but will not confirm if the funds are still on hold, or there is just not enough money to cover the check.
Asked on 10/23/08, 1:09 pm
1 Answer from Attorneys
Michael Rajtar
Rajtar & Associates, P.A.
Re: Returned Check, Uncollected Funds
it falls within the same statute as NSF. Feel free to give me a call should you have any questions.
Answered on 10/23/08, 1:58 pm
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