HARRY HUGHES, Governor

3057

(2) THE OFFICE WILL BE OPERATED EFFICIENTLY AND
IN ACCORDANCE WITH THIS TITLE.

(F) APPEAL.

ANY APPLICANT MAY APPEAL ANY ACTION OR NONACTION OF THE
DIVISION DIRECTOR UNDER THIS SECTION IN ACCORDANCE WITH
TITLE 8, SUBTITLE 4 OF THIS ARTICLE.

COMMITTEE COMMENT: This section replaces former Art.
23, § 161V.

In subsection (a) of this section, the defined
term "savings and loan association" is
substituted for "State-chartered".

In subsection (c) of this section, a new
provision conforms this procedure to comparable
application procedures for incorporation,
providing a protest period, and stating
conditions which permit the hearing to be
canceled.

In subsection (d) of this section, the Committee
corrects an inconsistency that had provided
protest rights to any financial institution, but
appeal rights only to the applicant or a
protesting savings and loan association. Any
savings and loan association in the area may
protest. Appeal rights at the agency level,
however, are granted only to the applicant.

In subsection (e) of this section, a new
provision setting a time within which the
Division Director approves or disapproves, is
added for clarity.

"Division Director" and "savings and loan
association" are defined in § 9-101 of this
title.

"Address" and "political subdivision" are defined
in § 1-101 of this article.

9-310. ELECTRONIC TERMINALS.

(A) "ELECTRONIC TERMINAL" DEFINED.

(1) IN THIS SECTION, "ELECTRONIC TERMINAL" MEANS
AN AUTOMATED ELECTRONIC INFORMATION PROCESSING DEVICE THAT:

(I) STORES INFORMATION ABOUT A CUSTOMER'S
ACCOUNT WITH A SAVINGS AND LOAN ASSOCIATION AND TRANSMITS
THAT INFORMATION TO AN OFFICE OF THE ASSOCIATION; AND

(II) IS ACTIVATED BY A MACHINE READABLE
INSTRUMENT ISSUED TO A CUSTOMER.