Sec. 06.05.426. Automated teller machines.

255 words·~1 min read·/ak/title-6/chapter-5/06-05-426

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A state bank may establish, maintain, and operate an automated teller machine on the premises of the main office or a branch office of the bank.

(b)A state bank may establish, maintain, and operate an automated teller machine at a location other than bank premises by notifying the department 30 days before the date of establishment. An automated teller machine operated off bank premises shall be made available on a nondiscriminatory basis for use by depositors of other depository institutions authorized to do business in the state, upon the agreement of the other depository institutions to pay a fair and equitable amount for the use of the machine.

(c)The notice required in

(b)of this section must include

(1)the location and general description of the surrounding area, including a description of the business establishment, if any, in which the machine will be located;

(2)the manner of operation and the kinds of transactions that the machine will perform;

(3)the names of the other depository institutions that will share the machine's services; and

(4)other information required by the department.

(d)A state bank may invest in a corporation organized to operate machines that perform automated teller services for two or more depository institutions.

(e)A person may not establish or operate an automated teller machine that accepts deposits unless those deposits are insured by the Federal Deposit Insurance Corporation or another agency of the United States that insures deposits.

Article 5. Conduct of Corporate Affairs.