SECTION 35.31. What is the banking commissioner required to do with respect to the electronic notification system?

(a) The banking commissioner is required to establish an electronic notification system, through secure email or another secure system, to be used by a financial institution to notify check verification entities as required by §523.052, Business & Commerce Code.

(b) The department will maintain the electronic notification system for financial institutions to use to transmit the required information to check verification entities, but the department:

(1) will not verify the accuracy, validity, or completeness of any information transmitted through the electronic notification system; and

(2) is not furnishing the information to the check verification entities.

Source Note: The provisions of this §35.31 adopted to be effective January 3, 2008, 32 TexReg 9940; amended to be effective September 9, 2010, 35 TexReg 8102