Clone of TAC - Rule 35.59 - What procedures must a check verification entity maintain to prevent recommending approval of a check or similar sight order after receipt of a notification of an offense under Section 32.51, Penal Code?

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TITLE 7 - BANKING AND SECURITIES

PART 2 - TEXAS DEPARTMENT OF BANKING

CHAPTER 35 - CHECK VERIFICATION ENTITIES

SUBCHAPTER D - PROCEDURE FOLLOWING A CUSTOMER REPORT OF AN OFFENSE UNDER SECTION 32.51, PENAL CODE

SECTION/RULE §35.59 - What procedures must a check verification entity maintain to prevent recommending approval of a check or similar sight order after receipt of a notification of an offense under Section 32.51, Penal Code?

Chapter Review Date 04/19/2024

A check verification entity must process a notification received through the electronic notification system or pursuant to §523.052(e)(2), Business & Commerce Code, in the same manner as it processes information received from its usual sources, including information received from its business customers.

Source Note: The provisions of this §35.59 adopted to be effective January 3, 2008, 32 TexReg 9940; amended to be effective September 9, 2010, 35 TexReg 8102.

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