California Revenue and Taxation Code 2508 – If any negotiable paper is returned unpaid to the bank with which it …
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If any negotiable paper is returned unpaid to the bank with which it was deposited pursuant to any requirement of this division, the bank shall return it to the officer who deposited it and, if its amount has been included in any cashier’s check given by the bank, the bank is entitled to a refund in the amount of the unpaid negotiable paper. Any negotiable paper redeemed by or charged back to the county treasurer by reason of nonpayment shall be returned to the officer who deposited it in exchange for currency or other negotiable paper or for the warrant of the county auditor drawn on the fund into which the original deposit was made.
(Amended by Stats. 2005, Ch. 22, Sec. 180. Effective January 1, 2006.)
Terms Used In California Revenue and Taxation Code 2508
- County: includes city and county. See California Revenue and Taxation Code 15
- negotiable paper: means checks, drafts, and money orders. See California Revenue and Taxation Code 2504