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Minnesota Legislature

Office of the Revisor of Statutes

SF 1664

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

KEY: stricken = removed, old language.
underscored = added, new language.
  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 1998, 
  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 1998, 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 against a consumer by the owner or 
  1.12  operator of an electronic financial terminal. 
  1.13     Sec. 2.  Minnesota Statutes 1998, 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: 
  1.17     (1) has been designated as a depository of state funds 
  1.18  under section 9.031; 
  1.19     (2) owns, operates, or controls a transmission facility; 
  1.20  and 
  1.21     (3) owns or operates more than .... electronic financial 
  1.22  terminals in this state 
  1.23  shall not assess an electronic terminal surcharge if the 
  1.24  transaction does not relate to or affect an account held by the 
  1.25  consumer with that financial institution.