§ 240-A. Electronic facilities.
122 words·~1 min read·
/ny/banking/savings-banks/240-a·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 240-a. Electronic facilities. A savings bank may conduct a banking
business, at automated teller machines, point-of-sale terminals, and
similar facilities subject to regulations which may be promulgated by
the superintendent of financial services. Such facilities shall not be
deemed to be branches and shall not be subject to any of the provisions
of this chapter applicable to branches; provided however that
notwithstanding the foregoing, for purposes of paragraph
(b)of
subdivision two of section two hundred forty of this chapter, such
facilities shall be deemed to be branches, and such facilities shall be
subject to the terms and conditions of section two hundred forty, and
for purposes of section twenty-eight-b of this chapter, such facilities
shall be deemed to be branches.