Ch. 304

1997 LAWS OF MARYLAND

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.

(b) A banking institution may have an electronic terminal, if the Commissioner [,
after receiving the advice of the Banking Board,] approves.

(c) (1) The Commissioner may approve a proposed electronic terminal only
if [the]:

(I) THE BANKING INSTITUTION FILES WITH THE COMMISSIONER
AN APPLICATION IN THE FORM THAT THE COMMISSIONER REQUIRES; AND

(II) THE Commissioner determines that it will be an effective and
efficient service, consistent with sound banking practice, and the security of the
transactions.

(2) (I) THE COMMISSIONER SHALL DETERMINE WHETHER TO
APPROVE AN APPLICATION FOR AN ELECTRONIC TERMINAL WITHIN 30 DAYS AFTER
THE RECEIPT OF A COMPLETED APPLICATION.

(II) AN APPLICATION FOR AN ELECTRONIC TERMINAL SHALL BE
DEEMED APPROVED IF THE COMMISSIONER TAKES NO ACTION WITHIN THE 30-DAY
PERIOD SPECIFIED IN SUBPARAGRAPH (I) OF THIS PARAGRAPH.

(d) (1) An electronic terminal may receive and dispense money as instructed by
a customer.

(2) A banking institution may verify by direct wire transmission or otherwise
any transaction that is made by means of an electronic terminal.

(3) The Commissioner may adopt rules and regulations that are
substantially similar to those rules and regulations of the Comptroller of the Currency for
the operation and shared use of electronic terminals by national banking associations.

(e) (1) If, after an electronic terminal is approved, any requirement of the
section is not being met, the Commissioner shall give the banking institution notice of the
deficiency.

(2) On notice of deficiency, a banking institution shall stop using the
electronic terminal.

(3) If the Commissioner determines that the deficiency has been corrected,
the banking institution may resume use of the electronic terminal.

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