Text: H03742                            Text: H03744
Text: H03700 - H03799                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 3743

Amendment Text

PAG LIN
  1  1    Amend House File 520 as follows:
  1  2    #1.  Page 6, by inserting after line 7 the
  1  3 following:
  1  4    "Sec.    .  Section 527.5, subsection 13, Code
  1  5 1995, is amended to read as follows:
  1  6    13.  Effective July 1, 1994, any transaction
  1  7 engaged in with a retailer through a satellite
  1  8 terminal located in this state at a location described
  1  9 in section 527.4, subsection 3, paragraph "d", by
  1 10 means of an access device which results in a debit to
  1 11 a customer asset account shall be cleared and paid at
  1 12 par to the retailer during the settlement of such
  1 13 transaction to the retailer.  Processing
  1 14 Notwithstanding the terms of any contractual agreement
  1 15 between a retailer or financial institution and a
  1 16 national card association as described in subsection
  1 17 12, an electronic funds transfer processing facility
  1 18 of a national card association, a central routing unit
  1 19 approved pursuant to this chapter, or a data
  1 20 processing center, the processing fees and charges for
  1 21 such transactions to the retailer shall not be based
  1 22 on a percentage of the amount of the transaction be as
  1 23 contractually agreed upon between the retailer and the
  1 24 financial institution which establishes, owns,
  1 25 operates, controls, or processes transactions
  1 26 initiated at the satellite terminal.  All accounting
  1 27 documents reflecting such fees and charges imposed on
  1 28 the retailer shall separately identify transactions
  1 29 which have resulted in a debit to a customer asset
  1 30 account and the charges imposed.  The provisions of
  1 31 this subsection shall apply to all satellite
  1 32 terminals, including limited-function terminals, full-
  1 33 function point-of-sale terminals as identified in
  1 34 subsection 12, paragraph "a", and multiple use
  1 35 terminals."
  1 36    #2.  By renumbering as necessary.  
  1 37 
  1 38 
  1 39                              
  1 40 LAMBERTI of Polk
  1 41 
  1 42 
  1 43                              
  1 44 MYERS of Johnson
  1 45 HF 520.303 76
  1 46 mj/cf
     

Text: H03742                            Text: H03744
Text: H03700 - H03799                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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