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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