HF 1226

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to commerce; requiring a criminal background check before granting
approval of an application to operate an automated teller machine from an
applicant other than a financial institution; amending Minnesota Statutes 2006, sections 47.62, subdivisions 3, 4; 47.64, subdivision 5.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2006, section 47.62, subdivision 3, is amended to read:

Subd. 3.

Application and required findings.

Application for authorization shall be
made in the manner prescribed by rule. The commissioner shall grant authorization for the
establishment of an electronic financial terminal if the commissioner finds that:

(a) There is reason to believe that the terminal will be properly and safely managed;

(b) The applicant is financially sound;

(c) The proposed charges for making the services of the terminal available to
financial institutions are fair, equitable, and nondiscriminatory;

(d) The applicant has furnished all of the information required by rule;

(e) The terminal applicant will not gain an unfair competitive advantage because
the terminal is not operationally available to other financial institutions or their data
processors within a reasonable period of time new text begin ; and
new text end

new text begin (f) The applicant does not have a criminal history that indicates a risk to the
public in connection with operation of the terminal. This finding must be informed by a
criminal background check obtained by the commissioner from the Bureau of Criminal
Apprehension, including information in its possession and a search of the National
Criminal Records Repository using a set of classifiable fingerprints provided by the
applicant to a law enforcement agency. A criminal background check must be obtained
for each person who has control, as defined in Minnesota Rules, part 2675.8100, subpart
5, of the applicant new text end .

If the commissioner has not denied the application within 45 days of its submission,
the authorization shall be deemed to be granted.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective January 1, 2008, and applies to
applications received on or after that date.
new text end

Sec. 2.

Minnesota Statutes 2006, section 47.62, subdivision 4, is amended to read:

Subd. 4.

Multiple terminals.

When more than one electronic financial terminal
is established and maintained at a single place of business by the same person, or if a
person wishes to make an application that encompasses more than one place of business
or location, a single application and fee shall be sufficient. For each application, a $100
fee shall be paid to the commissioner, and for each application for a change in pricing
structure, a $10 fee shall be paid to the commissioner. If the $100 fee or the $10 fee
is less than the costs incurred by the commissioner in approving or disapproving the
application, the fee shall be equal to those costs. new text begin In addition to this $100 application fee,
an additional reimbursement amount equal to the cost incurred by the commissioner for
the criminal background check required under subdivision 3, paragraph (b), shall be paid
to the commissioner with the application fee.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective January 1, 2008, and applies to
applications received on or after that date.
new text end

Sec. 3.

Minnesota Statutes 2006, section 47.64, subdivision 5, is amended to read:

Subd. 5.

Bond, security, or financial statement.

To insure payment to any
person who suffers loss due to negligence or intentional misconduct in the operation of
an electronic financial terminal any person seeking to establish an electronic financial
terminal shall deleted text begin , at the option of the commissioner, deleted text end file with the commissioner's office either
a financial statement in an acceptable form, or a bond, rider to an existing bond, or other
collateral security acceptable to and in an amount set by the commissioner. The new text begin filing
may be a financial statement only if the commissioner, in the commissioner's discretion,
permits that option for a particular applicant, but the new text end commissioner shall permit the filing
of a financial statement in lieu of a bond or other security only if the financial statement
demonstrates that the person seeking to establish the electronic financial terminal has the
financial ability to insure payment to any person who suffers loss due to negligence or
intentional misconduct in the operation of the electronic financial terminal. If the filing of
a financial statement is permitted, additional periodic financial information shall be filed
as required by the commissioner.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective January 1, 2008, and applies to
applications received on or after that date.
new text end