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.

AUTHORITY: sections 361.105 and 362.105.4, RSMo Supp. 1996 and 362.107, RSMo 1994.* This rule originally filed as 4 CSR 140-2.127. Emergency rule filed Dec. 10, 1996, effective Dec. 20, 1996, expired June 17, 1997. Original rule filed Dec. 10, 1996, effective May 30, 1997. Moved to 20 CSR 1140-2.127, effective Aug. 28, 2006. *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.