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LAWS OF MARYLAND

Ch. 33

(3)       WITHDRAW MONEY FROM AN ACCOUNT OF A
CUSTOMER; AND

(4)       MAKE PAYMENTS ON LOANS OWNED OR SERVICED BY
THE ASSOCIATION.

(E)       VERIFICATION OF TRANSACTIONS MADE THROUGH
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.

(F)       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.
HOWEVER, AN ASSOCIATION MAY NOT MAKE ANY AGREEMENT THAT
PROVIDES FOR THE EXCLUSIVE RIGHT TO USE AN ELECTRONIC
TERMINAL AT A PLACE WHERE OTHER FINANCIAL INSTITUTIONS WOULD
BE PROHIBITED FROM DOING BUSINESS.

(G)       REPORTS TO DIVISION DIRECTOR.

A SAVINGS AND LOAN ASSOCIATION THAT PARTICIPATES IN OR
HAS AN ELECTRONIC TERMINAL SHALL SEND THE DIVISION DIRECTOR
ANY REPORTS ABOUT THE OPERATION OF THE TERMINAL THAT THE
DIVISION DIRECTOR REQUIRES.

(H) APPEAL.

ANY APPLICANT OR PROTESTING SAVINGS AND LOAN
ASSOCIATION 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.

REVISOR'S NOTE: This section presently appears as Art.
23, § 161VW.

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

In subsection (b) of this section, the phrase "a
location that may be other than" is substituted
for "a location within this State other than" its
principal office to make clear that there is no
prohibition against an electronic terminal being
placed at an office of the association. This
section is needed to permit electronic terminals
where an association does not have an office.
However, statutory authorization is not needed
for electronic terminals at office locations.