N.D. Admin Code 13-02-06-13 - Pro rata cost sharing criteria and requirements

In order to further facilitate sharing of customer electronic funds transfer centers, the following requirements and criteria shall apply:

1. The establishing bank shall file a report with the commissioner of all costs of establishing the center and the projected costs of operation.

2. The establishing bank shall be prohibited from requiring that other participating banks maintain an account with the establishing bank in order to share the customer electronic funds transfer center.

3. Any bank may apply to join an existing customer electronic funds transfer center at anytime upon compliance with the provisions of this chapter.

4. The pro rata costs of the initial installation and the first year of operation of a customer electronic funds transfer center shall be determined by the respective sizes of the participating banks, based upon deposits at the end of the prior fiscal year. The pro rata costs for subsequent years shall be determined by the relative number of transactions handled for each bank sharing the center.

Notes

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

Amended effective October 1, 1991.

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

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