Section R17-8-404. Procedures for Payment

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A.       All electronic funds transfers shall be in compliance with the NACHA Operating Rules.

B.       A licensee may remit payments by either ACH credit or ACH debit.

C.       A licensee using the ACH credit method shall ensure that all ACH credit transfers are in the CCD-Plus addenda format and contain all information required by the Department and the lic- ensee’s financial institution to process the transfer.

D.       A licensee using the ACH debit method shall electronically communicate the following payment information to the state servicing bank:

1.        MVD account number,

2.        Payment amount, and

3.        Any other information required by the Director.

Historical Note

New Section made by final rulemaking at 15 A.A.R. 225, effective March 7, 2009 (Supp. 09-1).

                    
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