HARRY HUGHES, Governor

3059

(E)  USES OF ELECTRONIC TERMINAL.

A SAVINGS AND LOAN ASSOCIATION MAY USE AN ELECTRONIC
TERMINAL TO ENABLE A CUSTOMER OF THE ASSOCIATION TO:

(1)  DEPOSIT MONEY INTO AN ACCOUNT OF THE
CUSTOMER OF THE ASSOCIATION;

(2)  TRANSFER MONEY FROM ANY ACCOUNT OF THE
CUSTOMER TO ANY OTHER ACCOUNT;

(3)  WITHDRAW MONEY FROM AN ACCOUNT OR UNDER AN
AUTHORIZED LINE OF CREDIT OF A CUSTOMER;

(4)  MAKE PAYMENTS ON LOANS; AND

(5)  EXECUTE ANY OTHER TRANSACTION THAT THE BOARD
OF COMMISSIONERS APPROVES.

(F)  VERIFICATION OF TRANSACTIONS MADE THROUGH THE
TERMINAL.

A SAVINGS AND LOAN ASSOCIATION MAY VERIFY BY DIRECT
WIRE TRANSMISSION OR OTHERWISE ANY TRANSACTION THAT IS MADE
BY MEANS OF AN ELECTRONIC TERMINAL.

(G)  PARTICIPATION WITH ANOTHER FINANCIAL INSTITUTION.

A SAVINGS AND LOAN ASSOCIATION MAY PARTICIPATE WITH ANY
OTHER FINANCIAL INSTITUTION DOING BUSINESS IN THIS STATE IN
ESTABLISHING AND MAINTAINING AN ELECTRONIC TERMINAL.

(H) APPEAL.

ANY APPLICANT AGGRIEVED BY ANY ACTION OR NONACTION OF
THE DIVISION DIRECTOR UNDER THIS SECTION MAY APPEAL AS
PROVIDED IN TITLE 8, SUBTITLE 4 OF THIS ARTICLE.

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

In this section, the Committee uses the term
"electronic terminal" after conferring with the
Bank Commissioner so that uniformity is achieved.

In subsection (a)(1) of this section, the word
"automated" was substituted for "unmanned" to
make it clear that there is no prohibition
against a terminal being attended by personnel.

In subsection (b) of this section, the phrase
(location) "that may be other than" was
substituted for "location within this State other
than" to make it clear that there is no
prohibition against an electronic terminal being
placed at an office of the association. This