§ 14-229-104 - Rural water and wastewater entities -- Electronic funds transfers. - Arkansas Statutes

14-229-104. Rural water and wastewater entities -- Electronic funds transfers.

All rural water and rural wastewater entities, however organized, may disburse funds for payment of debts by electronic funds transfer if:

(1) The person responsible for the disbursement maintains a ledger including without limitation the following information:

(A) The name and address of the entity receiving payment;

(B) The routing number of the bank in which the funds are held;

(C) The account number and the accounts clearinghouse trace number pertaining to the transfer; and

(D) The date and amount transferred; and

(2) Written consent for payment by electronic funds transfer is given by the entity to whom the transfer is made.