1.1 	A bill for an act
1.2 	relating to financial institutions; regulating electronic financial terminals, and the 
1.3 	expenses of organizing and incorporating banks;amending Minnesota Statutes 
1.4 	2004, section 47.62, subdivision 1; repealing Minnesota Statutes 2004, sections 
1.5 	46.043; 47.62, subdivision 5.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. Minnesota Statutes 2004, section 47.62, subdivision 1, is amended to read:
1.8 		Subdivision 1.General authority. Any person may establish and maintain one 
1.9 	or more electronic financial terminals. Any financial institution may provide for its 
1.10 	customers the use of an electronic financial terminal by entering into an agreement with 
1.11 	any person who has established and maintains one or more electronic financial terminals if 
1.12 	that person authorizes use of the electronic financial terminal to all financial institutions 
1.13 	on a nondiscriminatory basis pursuant to section  47.64. Electronic financial terminals to 
1.14 	be established and maintained in this state by financial institutions located in states other 
1.15 	than Minnesota must file a notification to the commissioner as required in this section. 
1.16 	The notification may be in the form lawfully required by the state regulator responsible 
1.17 	for the examination and supervision of that financial institution. If there is no such 
1.18 	requirement, then notification must be in the form required by this section for Minnesota 
1.19 	financial institutions. 

1.20 	Sec. 2.  REPEALER.
 1.21 	Minnesota Statutes 2004, sections 46.043; and 47.62, subdivision 5, are repealed.