SECTION 15.34. Transfer of Funds to the Comptroller

Transfer of funds to the comptroller shall occur as follows:

(1) For persons choosing ACH debit/direct entry as the TexNet payment option for EFT, the payment amount entered into the TexNet data collection system by the person will be automatically withdrawn from the person's bank account on the designated settlement date as set out in §15.33 of this title (relating to Determination of Settlement Date), and no further action is required.

(2) For persons choosing ACH debit/indirect entry as the TexNet payment option for EFT, the payment amount entered into the TexNet payment processing system by the state agency to which payment is due will be automatically withdrawn from the person's bank account on the settlement date and no further action is required.

(3) Persons choosing ACH credit with addenda record(s) as the TexNet payment option for EFT must send the ACH credit to the comptroller for settlement on or before the due date. The addenda record(s) must be transmitted in the approved State of Texas addenda record format(s).

Source Note: The provisions of this §15.34 adopted to be effective May 2, 2013, 38 TexReg 2641