Current through P.L. 171-2024
Section 28-1-23.5-6 - Electronic activity incidental to financial institution's business(a) An electronic activity is authorized for a financial institution as incidental to the financial institution's business if the activity is convenient or useful to an activity that is: (1) specifically authorized for the type of financial institution under consideration; or(2) otherwise part of the business of the type of financial institution under consideration.(b) In determining whether an electronic activity is authorized as incidental to a financial institution's business, the director may consider whether the activity: (1) facilitates the production or delivery of the financial institution's products or services;(2) enhances the financial institution's ability to sell or market its products or services;(3) improves the effectiveness or efficiency of the financial institution's operations; or(4) enables the financial institution to: (A) use capacity acquired for its operations as a financial institution; or(B) otherwise avoid economic loss or waste.As added by P.L. 10-2006, SEC.32 and P.L. 57-2006, SEC.32.