Minnesota Session Laws - 1983, Regular Session

  

                         Laws of Minnesota 1983 

                        CHAPTER 102--H.F.No. 801
           An act relating to financial institutions; authorizing 
          electronic financial terminals at locations other than 
          retail locations established by persons other than 
          retailers; amending Minnesota Statutes 1982, sections 
          47.62, subdivision 1; and 47.64, subdivision 3; 
          repealing Minnesota Statutes 1982, section 47.61, 
          subdivision 5. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1982, section 47.62, 
subdivision 1, is amended to read: 
    Subdivision 1.  Any person may establish and maintain at a 
retail location one or more electronic financial terminals.  Any 
financial institution may provide for its customers the use of 
an electronic financial terminal by entering into an agreement 
with any person who has established and maintains one or more 
electronic financial terminals if that person authorizes use of 
the electronic financial terminal to all financial institutions 
on a nondiscriminatory basis pursuant to section 47.64. 
     Sec. 2.  Minnesota Statutes 1982, section 47.64, 
subdivision 3, is amended to read: 
    Subd. 3.  Any agreement or charge between a person 
establishing an electronic financial terminal and the retailer 
person at whose location the terminal is established shall be 
upon such commercially reasonable terms and conditions as are 
agreed to by the parties.  A retailer person at whose retail 
location an electronic financial terminal is established and 
maintained may limit the kind of financial transaction functions 
which the terminal may perform, but such retailer the person 
shall make available upon request every financial transaction 
function which the terminal does perform to all financial 
institutions, their affiliates, or agents on a nondiscriminatory 
basis.  A function involving either a bank credit card 
authorized pursuant to section 48.185 or other credit card 
authorized under any other similar open end consumer credit 
sales plan need not be made so available. 
     Sec. 3.  [REPEALER.] 
     Minnesota Statutes 1982, section 47.61, subdivision 5, is 
repealed. 
    Approved May 9, 1983