This bill amends Montana's banking laws to clarify that an interactive teller machine (ITM) does not qualify as a branch bank under specific conditions. The legislation 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 also revises existing definitions in Sections 32-1-109 and 32-6-103 of the Montana Code Annotated (MCA) to incorporate this new definition and to include ITMs in the context of electronic funds transfers and electronic terminals.

Additionally, the bill modifies the definition of "branch" to explicitly exclude interactive teller machines, along with satellite terminals and loan production offices, from being classified as branch banks. This change aims to provide clarity in the regulatory framework surrounding banking operations in Montana, ensuring that the use of ITMs is recognized as a distinct service rather than a traditional banking branch. The amendments also enhance the definitions related to electronic funds transfers to include ITM transactions, thereby modernizing the legal language to reflect current banking practices.

Statutes affected:
LC Text: 32-1-109, 32-6-103
HB0434_1(1): 32-1-109, 32-6-103
HB0434_1(2): 32-1-109, 32-6-103
HB0434_1(3): 32-1-109, 32-6-103
HB0434_1(4): 32-1-109, 32-6-103
HB0434_1(5): 32-1-109, 32-6-103
HB0434_1: 32-1-109, 32-6-103
HB0434_X(1): 32-1-109, 32-6-103
HB0434_X(2): 32-1-109, 32-6-103
HB0434_X(3): 32-1-109, 32-6-103
HB0434_X(4): 32-1-109, 32-6-103
HB0434_X(5): 32-1-109, 32-6-103
HB0434_X(6): 32-1-109, 32-6-103
HB0434_X(7): 32-1-109, 32-6-103
HB0434_X(8): 32-1-109, 32-6-103
HB0434_X(9): 32-1-109, 32-6-103
HB0434_X: 32-1-109, 32-6-103