SF 2728

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; 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.