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Can you summarize MOCS Title 20, Division 1100, Chapter 4?
DIVISION OF CREDIT UNIONS > Sale of Insurance by a Credit Union
Short Summary
This document authorizes state credit unions in Missouri to use an ATM network exchange for electronic funds transfer and information exchange. It establishes guidelines for the use of ATMs at locations other than credit union premises. The document requires credit unions to provide a ten-day prior notice to the director of the Division of Credit Unions and submit the agreement between the credit union and the interchange. It allows the use of the ATM network interchange located in Missouri to access accounts located in this state or any other state. The document references Federal Reserve Board Regulation E as the governing regulation for the rights, liabilities, and responsibilities of consumers and financial institutions related to ATMs. The authority for this document is section 370.070(10) of the Missouri Revised Statutes. No exemptions or penalties are mentioned.
Whom does it apply to?
State credit unions in Missouri
What does it govern?
Operation of a communications network processing service and switching system for electronic funds transfer and information exchange among credit unions in Missouri, interpretation of the law governing automatic teller machine (ATM) networks, guidelines for the use of ATMs at locations other than credit union premises, use of an ATM network exchange in connection with credit union's own ATMs and point of sale owned or leased by the credit union or others, ten-day prior notice to the director of the Division of Credit Unions, identification of the ATM interchange and participating instructions, submission of the agreement between the credit union and the interchange, use of ATM network interchange located in Missouri to access accounts located in this state or any other state, reference to Federal Reserve Board Regulation E as the governing regulation for the rights, liabilities, and responsibilities of consumers and financial institutions related to ATMs, authority under section 370.070(10) of the Missouri Revised Statutes
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Missouri