Text: HSB00639 Text: HSB00641 Text: HSB00600 - HSB00699 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 527.2, subsection 20, Code 2001, is 1 2 amended to read as follows: 1 3 20. "Satellite terminal" means and includes any machine or 1 4 device located off the premises of a financial institution, 1 5 and any machine or device located on the premises of a 1 6 financial institution only if the machine or device is 1 7 available for use by customers of other financial 1 8 institutions, whether attended or unattended, by means of 1 9 which the financial institution and its customers utilizing an 1 10 access device may engage through either the immediate 1 11 transmission of electronic impulses to or from the financial 1 12 institution or the recording of electronic impulses or other 1 13 indicia of a transaction for delayed transmission to the 1 14 financial institution, in transactions which affect a customer 1 15 asset account and which otherwise are specifically permitted 1 16 by applicable law. However, the term "satellite terminal" 1 17 does not include any such machine or device, wherever located, 1 18 if that machine or device is not generally accessible to 1 19 persons other than employees of a financial institution or an 1 20 affiliate of a financial institution. The term "satellite 1 21 terminal" does not include a point-of-service terminal that 1 22 accepts an electronic personal identifier and is used only for 1 23 purchases from a retailer by dispensing scrip or other 1 24 negotiable instruments usable only to purchase retail goods or 1 25 services from the retailer at the retail location where the 1 26 point-of-service terminal is located. 1 27 EXPLANATION 1 28 This bill amends Code section 527.2 to provide that a 1 29 point-of-service terminal is not a "satellite terminal" 1 30 established by a financial institution when the point-of- 1 31 service terminal accepts an electronic personal identifier, 1 32 and is used only for purchases from a retailer by dispensing 1 33 scrip or other negotiable instruments usable only to purchase 1 34 retail goods or services from the retailer at the retail 1 35 location where the point-of-service terminal is located. A 2 1 "satellite terminal" can only be established by a financial 2 2 institution and must comply with the provisions of Code 2 3 chapter 527 including availability, information statements, 2 4 and routing requirements. 2 5 LSB 6592HC 79 2 6 av/pj/5
Text: HSB00639 Text: HSB00641 Text: HSB00600 - HSB00699 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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