West Virginia Code of State Rules › Agency 106 - Banking › Title 106 - LEGISLATIVE RULE COMMISSIONER OF FINANCIAL INSTITUTIONS › Series 106-07 - Legislative Rule Pertaining To The Installation, Operation And Sharing Of Customer Bank Communication Terminals And The Utilization Of Non-Exclusive › Section 106-7-2 - Sharing Customer Bank Communication Terminals

Current through Register Vol. XLI, No. 28, July 12, 2024
2.1. Mandatory sharing.
Pursuant to W. Va. Code '31A-8-12b(1),
				  any banking institution, which individually or jointly with one or more other
				  banking institutions or other federally insured financial institutions,
				  installs, operates and engages in banking business from a customer bank
				  communication terminal in a location other than on the premises of its
				  principal office, branch bank, or authorized off-premise facility, shall make
				  such customer bank communication terminal available for use by other banking
				  institutions on a nondiscriminatory basis. The fees and charges required to be
				  paid by any banking institution which utilizes the customer bank communication
				  terminal shall not exceed a pro rata share of the costs, determined in
				  accordance with generally accepted accounting principles, of purchasing or
				  leasing, installing, operating and maintaining the customer bank communication
				  terminal, plus a reasonable rate of return on these costs to the owner or
				  lessee of the customer bank communication terminal.
2.2. Permissive/nondiscriminatory sharing.
Pursuant to W. Va. Code '31A-8-12b(a)(2),
				  any banking institution, which individually or jointly with one or more other
				  banking institutions or other federally insured financial institutions,
				  installs, operates and engages in banking business from a customer bank
				  communication terminal may make such customer bank communication terminal
				  available for use by one other federally insured financial institutions. A
				  banking institution which makes such a customer bank communication terminal
				  available for use by one other federally insured financial institution shall
				  make that customer bank communication terminal available for use by all other
				  federally insured financial institutions on a nondiscriminatory basis. The
				  charges to be paid by other federally insured financial institutions which
				  utilizes the customer bank communication terminal shall not exceed a pro rata
				  share of the costs, determined in accordance with generally accepted accounting
				  principles, of purchasing or leasing, operating and maintaining the customer
				  bank communication terminal, plus a reasonable return on these costs to the
				  owner of the customer bank communication terminal.
2.3. Written agreement or contract required
				to be filed with the Commissioner of Banking.
The terms and conditions of a banking institution's or other
				  federally insured financial institution's use of a customer bank communication
				  terminal under sections 2.1 or 2.2 of these rules shall be governed by a
				  written agreement or contract between the banking institution which installs,
				  operates and engages in banking business from that customer bank communication
				  terminal and the banking institution or other federally insured financial
				  institution whose customers shall use that customer bank communication
				  terminal. The written agreement or contract shall specify all terms and
				  conditions, and shall include the fees and charges for the use of the customer
				  bank communication terminal. A copy of the written agreement or contract shall
				  be filed with the Commissioner of Banking by the banking institution that
				  installs and operates the customer bank communication terminal.
2.4. Hearing before the
				Commissioner of Banking.
Upon the written complaint by a banking institution or
				  federally insured financial institution that it is unreasonably being denied
				  the use of a customer bank communication terminal which has been installed and
				  operated by a banking institution pursuant to subsections 2.1 or 2.2 of these
				  rules, the Commissioner of Banking shall hold a hearing in the manner
				  prescribed in W. Va. Code '31A-8-1.
				  After any such hearing and consideration of all the testimony and evidence on
				  the record, the Commissioner of Banking shall determine whether or not the
				  banking institution or federally insured financial institution has been denied
				  the right to utilize the customer bank communication pursuant to sections 2.1
				  or 2.2 of these rules. The Commissioner of Banking may issue an order directing
				  the banking institution that installs and operates the customer bank
				  communication terminal to comply with the provisions of this regulation and of
				  W. Va. Code '31A-8-12b(a)
				  and prescribe the manner and means of so complying.