Title 808 | Chapter 001 | Regulation 060
808 KAR 1:060.Automated teller machines.
Section 1.
Definition. "Financial institution" means a state chartered bank, savings and loan association, or credit union.Section 2.
A financial institution may receive and act upon a communication from a customer transmitted through an automated teller machine. The communication may:(1)
Request the withdrawal of funds either from the customer's deposit account or from a previously authorized line of credit;(2)
Instruct the institution to receive funds or to transfer funds for the customer's benefit;(3)
Make a balance inquiry;(4)
Instruct the financial institution to receive cash or a check; or(5)
Request the financial institution to dispense cash to the customer at the location of the automated teller machine.Section 3.
A transaction initiated by an automated teller machine shall be subject to verification by the financial institution.Section 4.
A financial transaction effected by use of an automated teller machine shall be deemed to be transacted at the institution and not at the automated teller machine. The automated teller machine shall not be considered to be a branch, branch office, or service facility.HISTORY: (2 Ky.R. 140; Am. 266; eff. 11-12-75; 8 Ky.R. 19; eff. 8-5-81; 12 Ky.R. 40; eff. 8-13-85; 25 Ky.R. 1182; eff. 1-19-99; TAm eff. 4-17-2007; 45 Ky.R. 2192, 2904; eff. 5-3-2019.)
808 KAR 1:060.Automated teller machines.
Section 1.
Definition. "Financial institution" means a state chartered bank, savings and loan association, or credit union.Section 2.
A financial institution may receive and act upon a communication from a customer transmitted through an automated teller machine. The communication may:(1)
Request the withdrawal of funds either from the customer's deposit account or from a previously authorized line of credit;(2)
Instruct the institution to receive funds or to transfer funds for the customer's benefit;(3)
Make a balance inquiry;(4)
Instruct the financial institution to receive cash or a check; or(5)
Request the financial institution to dispense cash to the customer at the location of the automated teller machine.Section 3.
A transaction initiated by an automated teller machine shall be subject to verification by the financial institution.Section 4.
A financial transaction effected by use of an automated teller machine shall be deemed to be transacted at the institution and not at the automated teller machine. The automated teller machine shall not be considered to be a branch, branch office, or service facility.HISTORY: (2 Ky.R. 140; Am. 266; eff. 11-12-75; 8 Ky.R. 19; eff. 8-5-81; 12 Ky.R. 40; eff. 8-13-85; 25 Ky.R. 1182; eff. 1-19-99; TAm eff. 4-17-2007; 45 Ky.R. 2192, 2904; eff. 5-3-2019.)