As I read the amendment, it is not optional for the bank to participate if the State decides that they want the bank to participate. In other words, as I read the amendment, it says that the State shall work out agreements with the banks to develop a data match system in which such institutions are required to provide every quarter, et cetera. So it is not just an encouragement. It is a requirement if the State so chooses.
Lincoln Chafee: “As I read the amendment, it is not optional for the bank to participate if the State decides that they want the bank to…”
Editor's note · Context
Discussing the requirements for banks under a proposed amendment.
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