1. Except as otherwise provided in subsection 2, the State Controller shall pay an account payable electronically.
2. Upon application of a payee or the payee’s representative, the State Controller may waive the requirements of subsection 1 if the State Controller determines that the electronic payment of an account payable would cause the payee to suffer undue hardship or extreme inconvenience.
3. The State Controller shall adopt regulations establishing a fee that must be paid to the State Controller by a payee that refuses to accept electronic payment of an account payable and was not granted a waiver pursuant to subsection 2. The fee must not exceed the actual cost to the State Controller to process the payment.
4. The State Controller may adopt such other regulations as are necessary or advisable to carry out the provisions of this section.