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Can you summarize VACV 6.2-832?
Establishment of automated teller machines and electronic terminals
Short Summary
This legal document governs the establishment and operation of automated teller machines (ATMs), cash-dispensing machines, and similar electronic or computer terminals by banks in the Commonwealth of Virginia. According to the document, no application or approval from the Commission is required for a bank to establish or operate such machines or terminals, regardless of their location or the services they provide. Virginia state banks and out-of-state banks are allowed to establish and operate these machines and terminals in the Commonwealth, as long as they comply with all applicable Commonwealth and federal laws and regulations. The Commission has the authority to adopt regulations related to electronic fund transfers by banks if it deems them necessary for the protection of the public interest.
Whom does it apply to?
Banks in the Commonwealth of Virginia
What does it govern?
Establishment and operation of automated teller machines and electronic terminals by banks
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Virginia