446

LAWS OF MARYLAND

Ch. 33

In subsection (b)(2)(v) of this section, the
present phrase "the mode of payment therefor" is
interpreted to mean the source of payment for the
annual expense.

In subsection (c) of this section, the present
tern "successive" (weeks) is deleted as
unnecessary.

Also in subsection (c) of this section, the
phrase "in the Maryland Register" is added for
clarity since the State Documents Law does not
require notice of the filing of such an
application.

NOTE TO THE GENERAL ASSEMBLY: In subsection (e)
of this section, any "financial institution" is
given a right to protest, but in subsection (f)
of this section, only a "protesting savings and
loan association" is given the right to appeal
from an order of the Division Director.

Also in subsection (e) of this section, the term
"nonaction" is vague since there is no set time
within which the Division Director must act under
this section.

"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.

9-308. ELECTRONIC TERMINALS.

(A)   "ELECTRONIC TERMINAL" DEFINED.

(1)   IN THIS SECTION, "ELECTRONIC TERMINAL" MEANS
AN AUTOMATED 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 THE CUSTOMER.

(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, THE
ASSOCIATION MAY HAVE AN ELECTRONIC TERMINAL AT A LOCATION