Gavvy: Texas Department of Banking, Rule 35.72 What Must A Check Verification Entity Do When It Receives Notice Directly from A Person Pursuant to Section 523.052(e)(2), Business & Commerce Code, Or from A Financial Institution Through the Electronic Notification System That Information the Check Verification Entity Received Was Erroneous?
Rule 35.72 What Must A Check Verification Entity Do When It Receives Notice Directly from A Person Pursuant to Section 523.052(e)(2), Business & Commerce Code, Or from A Financial Institution Through the Electronic Notification System That Information the Check Verification Entity Received Was Erroneous?
Subject to other applicable state or federal law, a check verification entity that is notified that information it received through the electronic notification system is not complete or accurate must process the notice in the same manner as it processes such notices received from its usual sources, including information received from its business customers.
Source Note: The provisions of this §35.72 adopted to be effective January 3, 2008, 32 TexReg 9940; amended to be effective September 9, 2010, 35 TexReg 8102
