Ch. 326                                    1996 LAWS OF MARYLAND

(i) Reasonably required to protect the welfare of the general economy
of the State and of the banking institution; and

(ii) Not detrimental to the public interest or to the banking institution;

(2)     The approval imposes the same conditions that federal law requires or
permits as to a bank service corporation owned exclusively by national banking
associations; and

(3)     The transaction complies with the rules, regulations, and conditions that
the [Bank] Commissioner adopts.

(d) This section does not apply to any bank service corporation organized before
July 1, 1984.

5-406.

The [Bank] Commissioner has the same authority to examine the business of a
bank service corporation that the [Bank] Commissioner has as to a banking institution.

5-407.                                                                                   . .

A banking institution may not permit any bank services to be performed for it,
whether by contract or otherwise, unless the banking institution and the person
performing the bank services give the [Bank] Commissioner satisfactory assurances that
the performance of the bank services will be subject to regulation and examination by the
[Bank] Commissioner to the same extent as if the banking institution itself were
performing the bank services.                                     

5-502.

(a) In this section:

(1)     "Electronic terminal" means any manned or unmanned electronic
machine that:

(i) Enables a customer of a banking institution to:

1.       Withdraw money from an account or under an authorized
line of credit of the customer with the banking institution;

2.       Transfer money from any account of the customer with the
banking institution to any other account with the banking institution; or

3.       Deposit money into an account of the customer with the
banking institution;

(ii) Is not located at the principal banking office or any branch of the
banking institution; and

(iii) If manned, is manned by a person who is under contract with but is
not an employee or officer of the banking institution; and

(2)     "Electronic terminal" does not include a telephone that the customer
operates.

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