SF 1201

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to financial institutions; limiting fees 
  1.3             charged for the use of automated teller machines; 
  1.4             amending Minnesota Statutes 1996, sections 47.61, by 
  1.5             adding a subdivision; and 47.64, by adding a 
  1.6             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 the 
  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. 7.  [LIMITATION ON FEES.] An electronic financial 
  1.16  terminal surcharge may not be assessed against a consumer if the 
  1.17  transaction does not relate to or affect an account held by the 
  1.18  consumer with the financial institution that is the owner or 
  1.19  operator of the electronic financial terminal.