as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am
Engrossments | ||
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Introduction | Posted on 01/29/1998 |
1.1 A bill for an act 1.2 relating to financial institutions; prohibiting a 1.3 certain type of fee charged for the use of automated 1.4 teller machines; amending Minnesota Statutes 1996, 1.5 sections 47.61, by adding a subdivision; and 47.64, by 1.6 adding a subdivision. 1.7 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.8 Section 1. Minnesota Statutes 1996, section 47.61, is 1.9 amended by adding a subdivision to read: 1.10 Subd. 3a. "Electronic financial terminal surcharge" means 1.11 a transaction fee assessed by the owner or operator of an 1.12 electronic financial terminal. 1.13 Sec. 2. Minnesota Statutes 1996, section 47.64, is amended 1.14 by adding a subdivision to read: 1.15 Subd. 8. [LIMITATION ON FEES.] A financial institution 1.16 that owns or operates an electronic financial terminal shall not 1.17 assess an electronic financial terminal surcharge against a 1.18 consumer if the transaction does not relate to or affect an 1.19 account held by the consumer with that financial institution.