as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am
Engrossments | ||
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Introduction | Posted on 02/25/1999 |
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.