Cancellation of uncashed benefit check

Sec. 10. (a) If a benefit check issued by the fund is outstanding and unpaid for more than six (6) months after the date the check is issued, the benefit check is canceled. (b) A benefit check canceled under subsection (a) may not be honored, cashed, or accepted for payment or deposit by an individual, a bank, a trust company, a savings association, or any other financial institution or person. (c) The cancellation of a benefit check under this section does not discharge the fund's obligation to pay the benefit for which the canceled benefit check was issued. [Pre-2006 Education Finance Recodification Citation: 21-6.1-5-9.5.] As added by P.L.2-2006, SEC.28.