Common use of Stale Dated Checks Clause in Contracts

Stale Dated Checks. Paper checks that are issued to Payees may become void after a reasonable amount of time has lapsed. We shall have the right, at our option and without notice to you, to pay or not pay any such check that is not presented to us for payment within 120 days after the issue date on the check. Unless you have closed your Account, the amount of the stale-dated check will be credited back to your Account from which the funds were drawn and the check will become void.

Appears in 3 contracts

Samples: Avadian Credit Union Online Services Agreement, Avadian Credit Union Online Services Agreement, Avadian Credit Union Online Services Agreement

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Stale Dated Checks. Paper checks that are issued to Payees may become void after a reasonable amount of time has lapsed. We shall have the right, at our option and without notice to you, to pay or not pay any such check that is not presented to us for payment within 120 days after the issue date on the check. Unless you have closed your Account, the amount of the stale-stale- dated check will be credited back to your Account from which the funds were drawn and the check will become void.

Appears in 1 contract

Samples: Avadian Credit Union Online Services Agreement

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