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47.64 OPERATION OF AN ELECTRONIC FINANCIAL TERMINAL.
    Subdivision 1. Request to use. (a) Any person establishing and maintaining an electronic
financial terminal located separate and apart from a financial institution's principal office, branch,
or detached facility for use by one type of financial institution shall, upon written request, make
its services available to any requesting financial institution of similar type on a fair, equitable,
and nondiscriminatory basis. A financial institution requesting use of an electronic financial
terminal shall be permitted its use only if the financial institution conforms to reasonable technical
operation standards which have been established by the electronic financial terminal provider.
For purposes of this subdivision, the types of financial institutions are: (1) commercial banks and
savings banks; (2) credit unions, industrial loan and thrift companies, and regulated lenders under
chapter 56; and (3) savings associations. The services of an electronic financial terminal may be
made available to any type of financial institution. After March 1, 1979, or earlier if determined
by the commissioner to be technically feasible, an electronic financial terminal which is used by
or made available to one type of financial institution shall be made available, upon request, to
other types of financial institutions on a fair, equitable, and nondiscriminatory basis. The charges
required to be paid to any person establishing and maintaining an electronic financial terminal
shall be related to an equitable proportion of the direct costs of establishing, operating, and
maintaining the terminal plus a reasonable return on those costs to the owner of the terminal. The
charges may provide for amortization of development costs and capital expenditures over a
reasonable period of time.
(b) Any person establishing and maintaining an electronic financial terminal located on and
as a part of a financial institution's principal office, branch, detached facility, or lending office
where deposits are not taken may, at the financial institution's option, (1) maintain the electronic
financial terminal for the exclusive use of the financial institution's customers; or (2) maintain the
electronic financial terminal for the use of the financial institution's customers and make some
or all of the electronic financial terminal's services available to any other requesting financial
institution on a fair, equitable, and nondiscriminatory basis.
    Subd. 2. Use by federal savings association or federal credit union. If a person
establishing and maintaining an electronic financial terminal makes it available for use by one or
more federal savings associations or one or more federal credit unions and their customers, the
federal savings association or federal credit union shall agree to grant to any financial institution
use of all similar devices owned, maintained, or used by it. A state chartered financial institution
or a national bank may participate upon contractual agreement in the use of a device which is
capable of performing the functions of an electronic financial terminal and is owned or operated
by one or more federal savings associations or federal credit unions.
    Subd. 3. Use agreement or charge. Any agreement or charge between a person establishing
an electronic financial terminal and the 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
person at whose location an electronic financial terminal is established and maintained may limit
the kind of financial transaction functions which the terminal may perform. If the electronic
financial terminal is not located on the premises of a financial institution's principal office, branch,
or detached facility, 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.
    Subd. 4. Staffing. An electronic financial terminal located separate and apart from a financial
institution's principal office, branch, or detached facility, if staffed, shall be operated exclusively
by a person who is not employed by any financial institution, any financial institution holding
company, or subsidiary thereof. However, persons assisting customers of financial institutions at
the site of the terminal may be trained by employees of a financial institution, financial institution
holding company, or subsidiary thereof, and nothing in this section shall be construed to prohibit
periodic servicing of an electronic financial terminal by an employee of a financial institution,
financial institution holding company, or subsidiary thereof.
    Subd. 5. Bond, security, or financial statement. To insure payment to any person who
suffers loss due to negligence or intentional misconduct in the operation of an electronic financial
terminal any person seeking to establish an electronic financial terminal shall, at the option of the
commissioner, file with the commissioner's office either a financial statement in an acceptable
form, or a bond, rider to an existing bond, or other collateral security acceptable to and in an
amount set by the commissioner. The commissioner shall permit the filing of a financial statement
in lieu of a bond or other security only if the financial statement demonstrates that the person
seeking to establish the electronic financial terminal has the financial ability to insure payment to
any person who suffers loss due to negligence or intentional misconduct in the operation of the
electronic financial terminal. If the filing of a financial statement is permitted, additional periodic
financial information shall be filed as required by the commissioner.
    Subd. 6. Use by customers of institutions located outside Minnesota. A customer of a
bank, savings bank, savings association, or credit union located outside Minnesota may, with
the consent of the person establishing an electronic financial terminal, use the terminal for the
withdrawal of funds and for the inquiry as to the balance in that customer's accounts maintained
with that institution. Nothing in sections 47.61 to 47.74 shall be construed to authorize any
person, other than a financial institution, to engage in business which is only legally authorized to
be engaged in by financial institutions.
    Subd. 7. Prohibition. An agreement to share electronic financial terminals may not contain
provisions distinguishing between cards issued by United States financial institutions and cards
issued by Canadian financial institutions relative to a fee that may be charged to a card holder by
the owner or operator of an electronic financial terminal, if the terminal is located within 50 miles
of the Canadian border, and the enforcement of any such provision is prohibited.
History: 1978 c 469 s 4; 1983 c 102 s 2; 1983 c 250 s 4; 1983 c 252 s 2; 1986 c 444; 1987 c
41 s 3-5; 1995 c 171 s 26; 1995 c 202 art 1 s 25; 1997 c 157 s 18

Official Publication of the State of Minnesota
Revisor of Statutes