§ 6.2-1136. (Effective October 1, 2010) Remote service units.
A. As used in this section:
"Personal security identifier" or "PSI" or "PIN" means any word,number, or other security identifier essential for an account holder to gainaccess to an account through a remote service unit.
"Remote service unit" or "RSU" means an information processing device,including associated equipment, structures and systems, by which informationrelating to financial services rendered to the public is stored andtransmitted, instantaneously or otherwise, to a financial institution. Anysuch device not on the premises of a state savings institution that, foractivation and account access, requires use of a machine-readable instrumentand personal security identifier in the possession and control of an accountholder, is an RSU. The term includes, without limitation, point-of-saleterminals, merchant-operated terminals, cash-dispensing machines, andautomated teller machines. The term does not include automated tellermachines on the premises of a state savings institution, unless shared withother financial institutions.
B. Subject to the requirements of the Electronic Funds Transfer Act (15U.S.C. § 1693 et seq.) and Regulation E of the Federal Reserve Board, a statesavings institution may establish or use remote service units and participatewith others in remote service unit operations on an unrestricted geographicbasis. A state savings institution may establish a remote service unitwithout prior approval of the Commission, provided that notice is given tothe Commissioner in accordance with the provisions of subsection A of §6.2-1133. No remote service unit may be used to open a savings account or ademand account or to establish a loan account.
C. Before permitting an account holder to use a remote service unit, thesavings institution shall provide a personal security identifier to theaccount holder and require its use when accessing a remote service unit. Aninstitution may not employ RSU access techniques that require the accountholder to disclose a PSI to another person.
D. A state savings institution shall not share an RSU with any financialinstitution or other entity the accounts of which are not insured by anagency of the federal government or by some other insuring agency approved bythe Commissioner.
E. A state savings institution shall not share an RSU located in theCommonwealth with any foreign savings institution, or other financialinstitution that is not incorporated under the laws of the Commonwealth,unless the foreign savings institution or other financial institution hasbeen authorized by the Commission to conduct its business in theCommonwealth. Nothing herein shall be deemed to prohibit a state savingsinstitution from sharing an RSU with a federal savings institution or otherfederally chartered financial institution authorized to conduct its businessin the Commonwealth.
F. An RSU shall not be considered to be a branch office of a state savingsinstitution.
(1985, c. 425, § 6.1-194.29; 1991, c. 230, § 6.1-194.122; 2010, c. 794.)
§ 6.2-1136. (Effective October 1, 2010) Remote service units.
A. As used in this section:
"Personal security identifier" or "PSI" or "PIN" means any word,number, or other security identifier essential for an account holder to gainaccess to an account through a remote service unit.
"Remote service unit" or "RSU" means an information processing device,including associated equipment, structures and systems, by which informationrelating to financial services rendered to the public is stored andtransmitted, instantaneously or otherwise, to a financial institution. Anysuch device not on the premises of a state savings institution that, foractivation and account access, requires use of a machine-readable instrumentand personal security identifier in the possession and control of an accountholder, is an RSU. The term includes, without limitation, point-of-saleterminals, merchant-operated terminals, cash-dispensing machines, andautomated teller machines. The term does not include automated tellermachines on the premises of a state savings institution, unless shared withother financial institutions.
B. Subject to the requirements of the Electronic Funds Transfer Act (15U.S.C. § 1693 et seq.) and Regulation E of the Federal Reserve Board, a statesavings institution may establish or use remote service units and participatewith others in remote service unit operations on an unrestricted geographicbasis. A state savings institution may establish a remote service unitwithout prior approval of the Commission, provided that notice is given tothe Commissioner in accordance with the provisions of subsection A of §6.2-1133. No remote service unit may be used to open a savings account or ademand account or to establish a loan account.
C. Before permitting an account holder to use a remote service unit, thesavings institution shall provide a personal security identifier to theaccount holder and require its use when accessing a remote service unit. Aninstitution may not employ RSU access techniques that require the accountholder to disclose a PSI to another person.
D. A state savings institution shall not share an RSU with any financialinstitution or other entity the accounts of which are not insured by anagency of the federal government or by some other insuring agency approved bythe Commissioner.
E. A state savings institution shall not share an RSU located in theCommonwealth with any foreign savings institution, or other financialinstitution that is not incorporated under the laws of the Commonwealth,unless the foreign savings institution or other financial institution hasbeen authorized by the Commission to conduct its business in theCommonwealth. Nothing herein shall be deemed to prohibit a state savingsinstitution from sharing an RSU with a federal savings institution or otherfederally chartered financial institution authorized to conduct its businessin the Commonwealth.
F. An RSU shall not be considered to be a branch office of a state savingsinstitution.
(1985, c. 425, § 6.1-194.29; 1991, c. 230, § 6.1-194.122; 2010, c. 794.)
§ 6.2-1136. (Effective October 1, 2010) Remote service units.
A. As used in this section:
"Personal security identifier" or "PSI" or "PIN" means any word,number, or other security identifier essential for an account holder to gainaccess to an account through a remote service unit.
"Remote service unit" or "RSU" means an information processing device,including associated equipment, structures and systems, by which informationrelating to financial services rendered to the public is stored andtransmitted, instantaneously or otherwise, to a financial institution. Anysuch device not on the premises of a state savings institution that, foractivation and account access, requires use of a machine-readable instrumentand personal security identifier in the possession and control of an accountholder, is an RSU. The term includes, without limitation, point-of-saleterminals, merchant-operated terminals, cash-dispensing machines, andautomated teller machines. The term does not include automated tellermachines on the premises of a state savings institution, unless shared withother financial institutions.
B. Subject to the requirements of the Electronic Funds Transfer Act (15U.S.C. § 1693 et seq.) and Regulation E of the Federal Reserve Board, a statesavings institution may establish or use remote service units and participatewith others in remote service unit operations on an unrestricted geographicbasis. A state savings institution may establish a remote service unitwithout prior approval of the Commission, provided that notice is given tothe Commissioner in accordance with the provisions of subsection A of §6.2-1133. No remote service unit may be used to open a savings account or ademand account or to establish a loan account.
C. Before permitting an account holder to use a remote service unit, thesavings institution shall provide a personal security identifier to theaccount holder and require its use when accessing a remote service unit. Aninstitution may not employ RSU access techniques that require the accountholder to disclose a PSI to another person.
D. A state savings institution shall not share an RSU with any financialinstitution or other entity the accounts of which are not insured by anagency of the federal government or by some other insuring agency approved bythe Commissioner.
E. A state savings institution shall not share an RSU located in theCommonwealth with any foreign savings institution, or other financialinstitution that is not incorporated under the laws of the Commonwealth,unless the foreign savings institution or other financial institution hasbeen authorized by the Commission to conduct its business in theCommonwealth. Nothing herein shall be deemed to prohibit a state savingsinstitution from sharing an RSU with a federal savings institution or otherfederally chartered financial institution authorized to conduct its businessin the Commonwealth.
F. An RSU shall not be considered to be a branch office of a state savingsinstitution.
(1985, c. 425, § 6.1-194.29; 1991, c. 230, § 6.1-194.122; 2010, c. 794.)
