Section 11.309 - 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.Amended By Acts 2009, 81st Leg., R.S., Ch. 87, Sec. 10.001, eff. 9/1/2009.Added by Acts 2007, 80th Leg., R.S., Ch. 1044, Sec. 2, eff. 9/1/2007.