CHAPTER 571

SENATE JOINT RESOLUTION NO. 41

CONTINUING THE COMMITTEE CREATED BY SENATE JOINT RESOLUTION NO. 5 OF THE 129TH GENERAL ASSEMBLY AND REQUESTING SAID COMMITTEE STUDY THE SUBJECT OF ELECTRONIC FUNDS TRANSFER SYSTEMS.

WHEREAS, the Committee established by Senate Joint Resolution No. 5 of the 129th General Assembly is concluding its current study of the Banking Code; and

WHEREAS, certain subjects were not studied due to time constraints; and

WHEREAS, the subject of electronic funds transfer systems, more commonly known as "EFTS", was not addressed; and

WHEREAS, EFTS is sufficiently complex to require a separate study; and

WHEREAS, EFTS legislation is currently under consideration in the Federal Congress; and

WHEREAS, thirty-one states have enacted some form of EFTS legislation; and

WHEREAS, the protection of both the citizens of Delaware and the financial institutions thereof would best be served by enactment of proper legislation.

NOW, THEREFORE:

BE IT RESOLVED by the members of the Senate of the 129th General Assembly of the State of Delaware, the Governor concurring therein that the Committee established by Senate Joint Resolution No. 5 of the 129th General Assembly is hereby continued. The Committee shall study the EFTS subject considering the report of the National Commission on Electronic Fund Transfers, federal legislation, legislation of other states and the unique requirement for Delaware.

BE IT FURTHER RESOLVED that a report of such study including proposed legislation, if legislation is found necessary, be given to the Governor and members of the Senate-House Joint Banking Committee, and that such report be made available on request to all legislators.

BE IT FURTHER RESOLVED that the report shall be due no later than May 1, 1979 and shall contain recommendations on such other matters as the Committee deems appropriate.

BE IT FURTHER RESOLVED that a copy of this Joint Resolution shall be sent to the members of the Committee established by Senate Joint Resolution No. 5 of the 129th General Assembly.

Approved July 11, 1978.