Texas § FI.11.309 - RULES RELATING TO CHECK VERIFICATION ENTITIES
Full text of Texas The Texas Constitution § FI.11.309 — RULES RELATING TO CHECK VERIFICATION ENTITIES, with citation guidance and answers to common questions.
§ FI.11.309. RULES RELATING TO CHECK VERIFICATION ENTITIES
RULES RELATING TO CHECK VERIFICATION ENTITIES. (a) In this section, "check verification entity" and "financial institution" have the meanings assigned by Section 523.052 , Business & Commerce Code. (b) The finance commission shall adopt rules: (1) requiring a check verification entity to register with the banking commissioner: (A) at the intervals the finance commission determines, but not less frequently than annually; and (B) by providing to the banking commissioner the information that the finance commission determines is necessary to enable a financial institution or a check verification entity to comply with the requirements of Section 523.052 , Business & Commerce Code; (2) authorizing the banking commissioner to charge a check verification entity a reasonable annual fee, not to exceed $100, to register with the commissioner; and (3) requiring the banking commissioner to establish an electronic notification system, through secure e-mail or another secure system, to be used by a financial institution to notify check verification entities as required by Section 523.052 , Business & Commerce Code. (c) The finance commission may not impose a duty on the banking commissioner under Subsection (b)(3) to verify the validity or completeness of information transmitted through the electronic notification system. (d) The banking commissioner may solicit and accept gifts, grants, and donations from public and private entities to establish and maintain the secure notification system. Added by Acts 2007, 80th Leg., R.S., Ch. 1044 (H.B. 2002 ), Sec. 2, eff. September 1, 2007. Amended by: Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969 ), Sec. 10.001, eff. September 1, 2009.
Frequently Asked Questions About Texas § FI.11.309
What does The Texas Constitution § FI.11.309 cover?
Section FI.11.309 ("RULES RELATING TO CHECK VERIFICATION ENTITIES") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.11.309?
A common citation format is "The Texas Constitution § FI.11.309" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.11.309 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.