Section 490.412 - Check cashing fees(1) Except as provided in subsection (2), a domestic credit union shall not contract for, receive, impose, assess, or collect a charge or fee for the cashing of a check that exceeds 1 of the following percentages of the face amount of the check, as applicable:(a) Five percent for a payroll, pension, or government check.(b) Seven percent for a check from an insurance company, including, but not limited to, a private health or disability insurance plan payment.(c) Ten percent for a personal check, money order, or other check.(2) A domestic credit union may contract for, receive, impose, assess, or collect a charge or fee that does not exceed $25.00 for the first check the credit union cashes for an individual.Added by 2003, Act 215, s 60, eff. 6/1/2004.