SECTION .1800 - COURIER SERVICE

04 NCAC 03C .1801        ESTABLISHMENT OF COURIER SERVICES

A bank may provide a courier or messenger service to its customers only if:

(1)         the bank complies with the requirements imposed by the Private Protective Services Act G.S. 74C-1. Et. Seq.; and

(2)         a written agreement between the bank and the customers contains the following:

(a)         a statement that the courier is the agent of the customer and not the agent of the bank;

(b)         a statement that deposits collected by the courier or messenger are received by the bank when the deposits have been delivered to a teller at the bank's premises or a location that is eligible and designated by the bank to receive deposits;

(c)         a statement that negotiable instruments collected by the courier or messenger are paid at the bank when delivered to the courier or messenger; and

(d)         an acknowledgment by the customer that transactions conducted by a courier service are not insured by the FDIC.

History Note:      Authority G.S. 53C-5-1; 53C-8-1;

Eff. June 1, 1995;

Amended Eff. October 1, 2014;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. October 3, 2017.