Section 7-1-372 - Collection charge; service charge

A commercial bank may deduct a reasonable collection charge covering its actual expenses from the remittance for any check forwarded to it for collection and remittance as a special collection item and may impose a service charge as authorized by Code Section 44-12-196, relating to when an instrument on which a banking or financial organization is directly liable is presumed abandoned.Amended by 2016 Ga. Laws 450,§ 2-6, eff. 7/1/2016.