Proprietary ATM Law & Legal Definition


According to 12 USCS § 4001 (16), [Title 12, Banks and Banking; Chapter 41. Expedited Funds Availability] the term proprietary ATM means “an automated teller machine which is--

(A) located--

(i) at or adjacent to a branch of the receiving depository institution; or

(ii) in close proximity, as defined by the Board, to a branch of the receiving depository institution; or

(B) owned by, operated exclusively for, or operated by the receiving depository institution.”