N.D. Admin Code 13-02-06-04 - Application for electronic funds transfer center to commissioner required - Contents of application

A customer electronic funds transfer center that accepts deposits may not be established, used, or shared by a bank until thirty days after the bank has sent to the commissioner written application for the proposed establishment or use of such center. The application shall describe with regard to such center:

1. The location.

2. A general description of the area where located, e.g., shopping center, supermarket, department store, etc., and the manner of installation at that location.

3. The manner of operation, including whether the center is on direct line, or indirect by other procedures, and describing such procedures.

4. The kinds of transactions that will be performed.

5. Whether the center will be manned, and if so, by whose employee.

6. The manufacturer of the equipment to be used and, if owned, the purchase price or, if leased, the lease terms and payments and the name of the lessor.

7. Consumer protection procedures, including the disclosure of rights and liabilities of consumers and protection against wrongful or accidental disclosure of confidential information.

8. The distance from the nearest banking house, paying and receiving station, or facility, and from the nearest similar center of the applicant bank.

9. The distance from the nearest banking house, paying and receiving station, or facility, and the nearest similar center of another bank, and the name of such other bank or banks within the city or town in which the center is to be established.

10. Insurance and the security provisions protecting the center and its users.

Notes

N.D. Admin Code 13-02-06-04

Amended effective October 1, 1991; August 1, 1995.

General Authority: NDCC 6-01-04, 6-03-02(8)

Law Implemented: NDCC 6-03-02(8)