Sec. 11.15.31.09. Collection and Transfer of Funds

A. Responsibility of Participant. A participant:

(1) Shall bear sole responsibility for the collection of funds that are transferred by the participant to the contractor's account;

(2) Shall transmit all funds and data in accordance with Transportation Article, §13-113, Annotated Code of Maryland; and

(3) May be relieved of its responsibilities for the transfer of the funds to the contractor only when evidence is shown that the proper funds were electronically transferred to the contractor's account.

B. Electronic Transfer of Funds. The contractor:

(1) Shall collect from the participant all fees, payments, sales taxes, penalties, and other sums collected by participants in connection with vehicle titling, registration, registration renewal, and other services as agreed on;

(2) Shall transfer electronically to the account of the State Treasurer immediately upon receipt from the participant, all moneys due the Administration;

(3) Shall transfer funds simultaneously with the transmission of related title and registration information;

(4) May not debit the State Treasurer's account without written authorization from the Administration; and

(5) Shall promptly notify the Administration if the contractor fails to receive final collected funds of any funds transferred by the participant.

C. Treasury Regulations Applicable. Electronic fund transfers shall be conducted in accordance with:

(1) Applicable regulations of the State Treasurer's Office; and

(2) Any further terms, conditions, and procedures consonant with those regulations, as may be required by the Administration.

D. Guarantor. The contractor shall be construed as a guarantor of payments made by the participants and transferred by the contractor.

E. Compensation.

(1) The contractor may not receive compensation from the Administration for transmitting vehicle title and registration transactions to the Administration by way of the electronic system.

(2) Pursuant to agreement, contractors may charge participants:

(a) Monthly participation fees; and

(b) Fees for each electronic submission of vehicle title and registration transactions.

(3) Pursuant to Transportation Article, §13-610, Annotated Code of Maryland, and COMAR 11.12.01.23, a participant may charge customers a separate service fee for providing services by way of the electronic system.

(4) A participant may not charge any other fees for filling out applications or for other services relating to vehicle title or registration transactions processed by way of the electronic system, unless authorized to do so by the Administration.