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1997 SESSION

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HB 2080 Electronic fund transfers; fees for supervision and regulation.

Introduced by: Gladys B. Keating | all patrons    ...    notes | add to my profiles

SUMMARY:

Banking; electronic fund transfers; fees for supervision and regulation. Updates state law provisions regarding electronic fund transfers to take into account federal laws and regulations. This bill removes the requirement that banks file with the Bureau of Financial Institutions an application prior to installing electronic terminals. The application process is replaced with the requirement that banks submit notice to the Bureau 25 days before the installation of certain terminals, i.e., only those that are capable of receiving deposits or making loans. The application fee is eliminated; a filing fee not to exceed $350 is authorized.

The Commission is authorized to promulgate necessary regulations.


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