HF 1041

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to financial institutions; regulating certain 
  1.3             electronic financial terminal surcharges; amending 
  1.4             Minnesota Statutes 1998, sections 47.61, by adding a 
  1.5             subdivision; and 47.64, by adding a subdivision. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1998, section 47.61, is 
  1.8   amended by adding a subdivision to read: 
  1.9      Subd. 3a.  "Electronic financial terminal surcharge" means 
  1.10  a transaction fee assessed against a consumer by the owner or 
  1.11  operator of an electronic financial terminal. 
  1.12     Sec. 2.  Minnesota Statutes 1998, section 47.64, is amended 
  1.13  by adding a subdivision to read: 
  1.14     Subd. 8.  [LIMITATION ON FEES.] A financial institution 
  1.15  that owns or operates an electronic financial terminal shall not 
  1.16  assess an electronic financial terminal surcharge against a 
  1.17  consumer if the transaction does not relate to or affect an 
  1.18  account held by the consumer with that financial institution.