The bill aims to revise banking laws in Montana by clarifying that an interactive teller machine (ITM) does not qualify as a branch bank under specific conditions. It introduces a definition for "interactive teller machine," describing it as an automated, unstaffed banking facility that allows customers to engage in core banking transactions and interact with bank personnel remotely. The bill amends existing definitions in Sections 32-1-109 and 32-6-103 of the Montana Code Annotated (MCA) to incorporate this new definition and to specify that ITMs, along with satellite terminals and loan production offices, are not considered branch banks.

Additionally, the bill updates the definitions related to electronic funds transfers to include ITM transactions, ensuring that these machines are recognized within the framework of electronic banking services. The amendments also clarify the relationship between ITMs and other banking facilities, reinforcing that they operate independently of traditional branch structures. Overall, the bill seeks to modernize banking regulations to accommodate technological advancements in banking services while maintaining regulatory clarity.

Statutes affected:
LC Text: 32-1-109, 32-6-103
HB0434_1: 32-1-109, 32-6-103