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.