US Laws, Codes, Statutes & Cases

570.220. 1. A person commits the crime of check kiting if he, pursuant to a scheme or artifice to defraud, obtains money from a financial institution by drawing a check against an account in which there are not sufficient collected funds to pay the check and, as part of the scheme or artifice, he purports to cover that check by depositing in such account another check drawn against insufficient collected funds.

2. For purposes of this section, the term "financial institution" shall mean a bank, trust company, savings and loan association, or credit union; "check" shall include any check, draft, negotiable order of withdrawal, or similar instrument used to transfer or withdraw funds held in a deposit account at a financial institution; and the term "collected funds" shall mean that portion of a deposit account representing checks and other credits as to which the depositary has directly and affirmatively verified that final payment has been made or, in the alternative, with respect to checks as to which at least ten business days have elapsed, without return of the checks, since presentation for payment.

3. Check kiting is a class C felony.

(L. 1985 H.B. 408 § 570.210)