NORTH CAROLINA GENERAL ASSEMBLY

1975 SESSION

CHAPTER 553

SENATE BILL 804

AN ACT TO AUTHORIZE BANKS TO UTILIZE OFF-PREMISES CUSTOMER-BANK COMMUNICATIONS TERMINALS.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 53-62 is hereby amended by redesignating subsections "(e)" and "(f)" as subsections "(f)" and "(g)", respectively, and by adding thereto a new subsection after subsection "(d)" to be designated subsection "(e)" as follows:

"(e)       Subject to such rules and regulations as may be prescribed by the State Banking Commission with regard to their use, maintenance and supervision, any bank may establish off the premises of any principal office, branch or teller's window a customer-bank communications terminal, point-of-sale terminal, automated teller machine, automated banking facility or other direct or remote information processing device or machine whether manned or unmanned, through, or by means of which, information relating to any financial service or transaction rendered to the public is stored and transmitted, instantaneously or otherwise, to or from a bank, or other nonbank terminal, establishment and use of such a device or machine shall not be deemed a branch or teller's window and the capital requirements and standards for approval of a branch or teller's window, all as set forth in subsections (b) and (c) above, shall not be applicable to the establishment of any such off-premises terminal device or machine; provided, however, that no bank, savings and loan association, savings bank, credit union or any other financial institution which is not domiciled in North Carolina may establish in North Carolina any information processing device or machine described in this subsection."

Sec. 2.  This act shall become effective on July 1, 1975.

In the General Assembly read three times and ratified, this the 11th day of June, 1975.