Section 31.40 - Registration of Financial Institution Electronic Branches(1)Application. Any financial institution seeking to operate an electronic branch shall file an application, in such form as the Commissioner may require, prior to providing electronic funds transfer services. The Commissioner may demand such additional information as he or she may require, to determine that a financial institution is in compliance with application provisions of M.G.L. c. 167B and 209 CMR 31.00.(2)Transfer and Termination. Approved financial institution electronic branches are not transferable and shall not be relocated or terminated without notification to the Commissioner.(3)Penalties for Non-compliance. Failure to comply with the provisions of M.G.L. c. 167B, § 4 or 209 CMR 31.00 shall constitute grounds for denial of an application or revocation of approval.Adopted by Mass Register Issue 1328, eff. 12/16/2016.