Fla. Stat. 655.85
Settlement of checks

If a check is forwarded or presented to a financial institution for payment, except when presented by the payee in person, the paying institution or remitting institution shall settle the amount of the check at par, at its option, in money or in exchange drawn on its reserve agent or agents in the City of New York or in any reserve city within the Sixth Federal Reserve District. The term “at par” applies only to the settlement of checks between collecting and paying or remitting institutions and does not apply to, or prohibit an institution from, deducting from the face amount of the check drawn on it a fee for paying the check if the check is presented to the institution by the payee in person. This section does not apply to the settlement of a check sent to such institution as a special collection item.

Source: Section 655.85 — Settlement of checks, https://www.­flsenate.­gov/Laws/Statutes/2024/0655.­85 (accessed Aug. 7, 2025).

655.001
Purpose 655.005
Definitions 655.012
General supervisory powers 655.013
Effect on existing financial institutions 655.015
Construction 655.016
Liability when acting upon rule, order, or declaratory statement 655.017
Local regulation preempted 655.031
Administrative enforcement guidelines 655.032
Investigations, subpoenas, hearings, and witnesses 655.033
Cease and desist orders 655.034
Injunctions 655.035
Military lending 655.037
Removal of a financial institution-affiliated party by the office 655.41
Definitions 655.041
Administrative fines 655.043
Articles of incorporation 655.044
Accounting practices 655.045
Examinations, reports, and internal audits 655.047
Assessments 655.049
Deposit of fees and assessments 655.50
Florida Control of Money Laundering and Terrorist Financing in Financial Institutions Act 655.51
Employment information 655.55
Law applicable to deposits in and contracts relating to extensions of credit by a deposit or lending institution located in this state 655.56
Collection of fines, interest, or premiums on loans made by financial institutions 655.057
Records 655.059
Access to books and records 655.60
Appraisals 655.061
Competitive equality with federally organized or chartered financial institutions 655.071
International banking facilities 655.77
Deposits by minors 655.78
Deposit accounts in two or more names 655.79
Deposits and accounts in two or more names 655.80
Convenience accounts 655.82
Pay-on-death accounts 655.83
Adverse claim to a deposit or fiduciary account 655.84
Limitations 655.85
Settlement of checks 655.86
Issuance of postdated checks 655.89
Legal holidays 655.90
Closing during emergencies and other special days 655.91
Records of institutions and copies thereof 655.93
Definitions for ss 655.94
Special remedies for nonpayment of rent 655.0201
Service of process, notice, levy, or demand on financial institutions 655.0321
Restricted access to certain hearings, proceedings, and related documents 655.0322
Prohibited acts and practices 655.0323
Unsafe and unsound practices 655.0385
Disapproval of directors and executive officers 655.0386
Transactions with financial institution-affiliated parties 655.0391
Retention of supervision by office 655.0392
Place of transacting business 655.411
Conversion of charter 655.412
Merger and consolidation 655.414
Acquisition of assets 655.416
Book value of assets 655.417
Effect of merger, consolidation, conversion, or acquisition 655.418
Nonconforming activities 655.419
Effect 655.0591
Trade secret documents 655.762
Sale of assets 655.769
Definitions of terms used in ss 655.825
Deposits in trust 655.851
Unclaimed credit balances 655.921
Transaction of business by out-of-state financial institutions 655.922
Banking business by unauthorized persons 655.931
Authority to engage in safe-deposit business 655.932
Lease to minor 655.933
Access by fiduciaries 655.934
Effect of lessee’s death or incapacity 655.935
Search procedure on death of lessee 655.936
Delivery of safe-deposit box contents or property held in safekeeping to personal representative 655.937
Access to safe-deposit boxes leased in two or more names 655.938
Adverse claims to contents of safe-deposit box 655.939
Limiting right of access for failure to comply with security procedures 655.942
Standards of conduct 655.943
Applications 655.946
Single interest insurance placed by financial institutions 655.947
Debt cancellation products 655.948
Significant events 655.949
Personnel 655.954
Financial institution loans 655.955
Liability of financial institution to third parties 655.960
Definitions 655.961
Violation of specified provisions not negligence per se 655.962
Lighting 655.963
Access devices 655.964
Application 655.965
Preemption 655.966
Automated teller machine 655.967
State-funded endowments 655.968
Financial institutions 655.03855
Provisional directors and executive officers 655.4185
Emergency action

Current through Fall 2025

§ 655.85. Settlement of checks's source at flsenate​.gov