(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 approves.

(c) (1) The Commissioner may approve a proposed electronic terminal only

if:

(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.

(f) For purposes of this article, an electronic terminal is not a branch of a
banking institution.]