Texas Transportation Code 643.004 – Payment of Fees
(a) The department may adopt rules on the method of payment of a fee under this chapter, including:
(1) authorizing the use of:
(A) escrow accounts described by Subsection (b); and
(B) electronic funds transfer or a credit card issued by a financial institution chartered by a state or the United States or by a nationally recognized credit organization approved by the department; and
(2) requiring the payment of a discount or service charge for a credit card payment in addition to the fee.
(b) The department may establish one or more escrow accounts in the Texas Department of Motor Vehicles fund for the prepayment of a fee under this chapter. Prepaid fees and any fees established by the department for the administration of this section shall be:
(1) administered under an agreement approved by the department; and
(2) deposited to the credit of the Texas Department of Motor Vehicles fund to be appropriated only to the department for the purposes of administering this chapter.
Terms Used In Texas Transportation Code 643.004
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005