Current through Register Vol. 47, No. 21, October 9, 2020
Section 22.01.06.02 - Electronic Fund TransferA. Except as provided in Regulation .04 of this chapter, the Retirement Agency shall pay the allowance of a payee by electronic fund transfer to the institution designated by the payee as provided in this regulation.B. A payee shall properly complete the electronic fund transfer sign-up form provided by the Retirement Agency and file it with the Retirement Agency.C. The Retirement Agency shall accept the electronic fund transfer sign-up form filed by a payee if: (1) The form has been properly completed in accordance with the form's instructions; (2) The institution named by the payee on the form participates in the Automated Clearing House Network;(3) Not more than five payees share the same account number at the institution; and(4) The Retirement Agency deems the form acceptable.D. The Executive Director, or the Executive Director's designee, may waive the requirement of §C(3) of this regulation upon written request by a payee and for good cause shown. Determination of a waiver request is not a contested case under State Government Article, § 10-202, Annotated Code of Maryland, for which a hearing is required under COMAR 22.03.04.E. At any time while receiving an allowance, a payee may change the designated institution by properly completing a new electronic fund transfer sign-up form and submitting the form to the Retirement Agency.F. The last electronic fund transfer sign-up form filed by a payee and accepted by the Retirement Agency shall control the electronic fund transfer of the payee's monthly allowance.
Md. Code Regs. 22.01.06.02Regulation .02 recodified from Regulations .03 effective 42:23 Md. R. 1435, eff.11/23/2015; amended and recodified from .01 effective 46:20 Md. R. 843, eff. 10/7/2019