3058

LAWS OF MARYLAND

Ch. 856

(2) AN ELECTRONIC TERMINAL IS NOT A BRANCH
OFFICE OF A SAVINGS AND LOAN ASSOCIATION.

(B)  ESTABLISHMENT AND MAINTENANCE AUTHORIZED.

IF THE DIVISION DIRECTOR APPROVES THE APPLICATION OF A
SAVINGS AND LOAN ASSOCIATION UNDER THIS SECTION, AN
ASSOCIATION MAY ESTABLISH AND MAINTAIN AN ELECTRONIC
TERMINAL AT A LOCATION THAT MAY BE OTHER THAN ITS PRINCIPAL
OR ANY BRANCH OFFICE.

(C)  APPLICATION FOR TERMINAL; FILING FEE; NOTICE OF
FILING.

(1)  THE SAVINGS AND LOAN ASSOCIATION SHALL:

(I)  FILE WITH THE DIVISION DIRECTOR AN
APPLICATION FOR GENERAL AUTHORITY TO ESTABLISH ONE OR MORE
ELECTRONIC TERMINALS; AND

(II)  PAY TO THE DIVISION OF SAVINGS AND
LOAN ASSOCIATIONS A $100 FILING FEE.

(2)  THE APPLICATION SHALL INCLUDE AS TO PROPOSED
ELECTRONIC TERMINALS:

(I)  THE LOCATION OF EACH;

(II)  THE PHYSICAL SIZE AND OTHER
CHARACTERISTICS;

(III)  THE CAPITAL INVESTMENT;

(IV)  THE SECURITY DEVICES TO BE INSTALLED;

(V)  THE SYSTEMS AND SAFEGUARDS TO BE USED
TO INSURE CONFIDENTIALITY AND PRIVACY OF THE ACCOUNT
INFORMATION OF CUSTOMERS; AND

(VI)  EVIDENCE OF SUFFICIENT FIDELITY,
FORGERY, AND OTHER APPROPRIATE INSURANCE TO PROTECT THE
INTERESTS OF THE ASSOCIATION.

(3)  THE DIVISION DIRECTOR SHALL PUBLISH A NOTICE
OF THE FILING IN THE MARYLAND REGISTER AS PROVIDED IN THE
STATE DOCUMENTS LAW.

(D)  APPROVAL OR DISAPPROVAL.

WITHIN 60 DAYS AFTER THE APPLICATION IS FILED, THE
DIVISION DIRECTOR SHALL APPROVE AN APPLICATION ONLY IF THE
DIRECTOR FINDS THAT THE PROPOSED TERMINAL WILL:

(I)  PROMOTE THE PUBLIC INTEREST; AND

(II)  BE OPERATED EFFICIENTLY AND IN
ACCORDANCE WITH THIS TITLE.