SECTION 55.552. Definitions

The following words and terms when used in this subchapter shall have the following meanings, unless the context clearly indicates otherwise:

(1) "Account" means a demand deposit account, checking or negotiable withdrawal order account, savings account, time deposit account, or money-market mutual fund account.

(2) "Account owner record" means the record used by a financial institution to report account owner information including payee identification information, account balance and account type.

(3) "Account file" means an electronic file submitted to the Title IV-D agency listing all accounts of the financial institution under the option provided by Match Method 1 (infra).

(4) "Authorized representative" means an officer or executive of a financial institution authorized to sign a memorandum of agreement (infra) on behalf of the institution.

(5) "FEIN" means the federal employer identification number.

(6) "Financial institution" means:

(A) a depository institution, as defined in Section 3(c) of the Federal Deposit Insurance Act (12 U.S.C. 1813(c));

(B) an institution-affiliated party, as defined in Section 3(u) of the Federal Deposit Insurance Act (12 U.S.C. 1813(u));

(C) any federal credit union or state credit union, as defined in Section 101 of the Federal Credit Union Act (12 U.S.C. 1752), including an institution-affiliated party of such a credit union, as defined in Section 206(r) of such Act (12 U.S.C. 1786(r)); or

(D) any benefit association, insurance company, safe deposit company, money-market mutual fund, or similar entity authorized to do business in the State.

(7) "Financial institution record" means the record used by a financial institution to report identifying information about the financial institution including name, address, service bureau and reporting agent.

(8) "Inquiry file" means electronic files sent by the Title IV-D agency or OCSE (infra) to financial institutions electing to report under Match Method 2 (infra) that contain records of delinquent child support obligors that the institution will use to match against its records.

(9) "Match Method 1" means the process used by a financial institution to submit an electronic file containing all its open accounts to the Title IV-D agency or its agent that is matched against records of delinquent child support obligors.

(10) "Match Method 2" means the process used by a financial institution to conduct matches against an inquiry file (supra).

(11) "Match file" means electronic files sent by a financial institution to the Title IV-D agency or OCSE (infra) that report accounts matched against an inquiry file supplied by the Title IV-D agency or OCSE to the financial institution under Match Method 2 (supra).

(12) "Memorandum of agreement" means a form completed and signed by an authorized representative (supra) and the Title IV-D agency or its agent for the purpose of exchanging information by way of an automated data exchange system that serves as the official agreement between the financial institution and the Title IV-D agency.

(13) "Multi-state financial institution" means any financial institution operating in two or more states that maintains accounts for its customers.

(14) "OCSE" means the Office of Child Support Enforcement within the federal Department of Health and Human Services.

(15) "Record" has the meaning given such term in section 1101 of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3401).

(16) "Reporting agent" means a service provider who has a contract with a financial institution to report data match information.

(17) "Single-state financial institution" means a financial institution doing business exclusively within the State or a multi-state financial institution declining the option to process data matches through OCSE.

(18) "Total record" means the entire file submitted by a financial institution to report individual accounts and the dollar amount associated with each account, the total number of accounts and total dollar amount of the records contained in the file.

Source Note: The provisions of this §55.552 adopted to be effective August 15, 2001, 26 TexReg 6009