††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††† May 18-19, 2000
ITEM 107-106-R0500† ††††† Delete Policy
Montana Board of Regents of Higher Education
Policy and Procedures Manual
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 campusís ability to recover amounts necessary to cover their expenses related to checks returned for insufficient funds.