as introduced - 91st Legislature (2019 - 2020) Posted on 02/27/2020 03:58pm
A bill for an act
relating to commerce; prohibiting account suspension or transaction cancellation
for certain peer-to-peer online payment service users; proposing coding for new
law in Minnesota Statutes, chapter 325E.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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(a) For purposes of this section, the following terms have
the meanings given them.
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(b) "Industrial
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manufacturer or business" means a person licensed under section
18K.04, subdivision 1, or authorized under section 18K.03, subdivision 1, to cultivate,
process, or sell industrial
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, as defined under section 18K.02, subdivision 3.
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(c) "Peer-to-peer online payment service" means a web- or mobile-based application,
connected to a user's bank account, debit card, or credit card, that enables the user to directly
make purchases from or send money to another user.
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(d) "User" means an individual or entity that is registered to use a peer-to-peer online
payment system to exchange money with other users.
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(e) "User agreement" or "terms of service" means an agreement made between the owner,
administrator, or provider of a peer-to-peer online payment service and the user of the
service that defines the rights and responsibilities of both parties.
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(a) A peer-to-peer online payment
service is prohibited from (1) suspending or closing the account of, (2) freezing or otherwise
limiting access to the account of, or (3) preventing or canceling transactions by, a user that
is an industrial
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manufacturer or business in Minnesota solely on the basis of the
industrial
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manufacturer's or business' business type, stated business activity, or
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products sold even if the industrial
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manufacturer's or business' business type, business
activity, or
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products sold violate the peer-to-peer online payment system's user
agreement or terms of service.
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(b) Paragraph (a) does not limit a peer-to-peer online payment service's ability to
otherwise suspend or close an account, freeze or limit access to an account, or prevent or
cancel a transaction of an industrial
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provisions of the peer-to-peer online payment system's user agreement or terms of service.
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A peer-to-peer online payment service that violates subdivision 2 is
subject to enforcement action under section 8.31.
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