The new check law comes into effect: easing of penalties and deadline to regularize financial status.

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Law No. 71.24: Reforming the Penal Code Relating to Bounced Checks

Law No. 71.24, which amends and complements Law No. 15.95 concerning the Commercial Code, has officially come into effect following its publication in Official Bulletin No. 7478. This reform introduces significant changes regarding offenses related to issuing checks without sufficient funds. Its aim is to strike a balance between easing penalties and protecting financial rights while promoting secure bank payments in business transactions.

Easing Penal Sanctions:

The new law reduces the duration of imprisonment for offenses related to checks, decreasing it from a previous range of 1 to 5 years to a period of 6 months to 3 years. Furthermore, it eliminates penalties for checks issued between spouses or between parents and children, treating these disputes as purely civil matters and allowing victims to pursue only civil action.

In other scenarios, payment of the check amount after a complaint has been filed leads to the definitive end of legal proceedings, regardless of whether the check issuer is in custody or wanted. The individual can also be released immediately upon full payment, even after a final judgment.

Deadline to Remedy Financial Situations:

The law grants the check issuer a one-month period to rectify their financial situation before any arrest measures are taken, with the possibility of extending this by an additional month at the complainant’s discretion. An electronic bracelet may be applied to prevent flight risk. The financial penalty after a complaint is filed has been reduced to 2% of the check amount, down from the previous 25%, encouraging the settlement of financial obligations outside of criminal frameworks.

Strengthening Preventive Justice and Protecting Transactions:

These modifications are part of a broader initiative aimed at strengthening preventive justice and diminishing the coercive nature of financial sanctions. The principle of penal conciliation is applied at all stages of the dispute, including during the execution of penalties. The law encourages the use of bank payments while limiting cash transactions, thereby enhancing financial transparency and supporting the activities of businesses and merchants.

Expert Opinions:

Economic experts believe the law finds a balance between easing sanctions and securing commercial transactions while mitigating risks associated with non-payment offenses. It ensures effective protection for check beneficiaries and promotes the integration of financial transactions into the formal economy, making checks a secure and guaranteed tool.

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