Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 2 - Banks and Trust Companies
Section 20 CSR 1140-2.127 - Branch Banking- ATMs

Universal Citation: 20 MO Code of State Regs 1140-2.127
Current through Register Vol. 49, No. 6, March 15, 2024

PURPOSE: On September 30, 1996, federal law ( 12 U.S.C. 36 ) was amended to state that automated teller machines and remote service units were not branches, eliminating the need for regulatory approval. This rule restores parity between state and national banks.

The term "branch" in section 362.107, RSMo does not include an automated teller machine, a point of sale device, a cash dispensing machine, or similar unmanned banking terminal. Accordingly, it is not necessary to obtain the approval of the commissioner of finance to establish or relocate such a device.

*Original authority: 361.105, RSMo 1967, amended 1993, 1994, 1995; 362.105, RSMo 1939, amended 1949, 1963, 1965, 1967, 1977, 1983, 1986, 1990, 1991, 1992, 1995; and 362.107, RSMo 1959, amended 1971, 1972, 1978, 1980, 1982, 1983, 1985, 1986, 1987, 1990, 1991.

Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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