HARRY HUGHES, Governor

1097

(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.

(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.