S.B. No. 661
AN ACT
1-1 relating to transaction fees for the use of an electronic terminal
1-2 connected to a shared electronic network.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Chapter IX, The Texas Banking Code (Article
1-5 342-901 et seq., Vernon's Texas Civil Statutes), is amended by
1-6 adding Article 3d to read as follows:
1-7 Art. 3d. TRANSACTION FEES FOR SHARED ELECTRONIC TERMINALS
1-8 Sec. 1. In this article:
1-9 (1) "Electronic terminal" means an electronic device,
1-10 other than a telephone, through which a consumer may initiate an
1-11 electronic fund transfer. The term includes a point-of-sale
1-12 terminal, an unmanned teller machine, and a cash dispensing
1-13 machine.
1-14 (2) "Electronic fund transfer" means any transfer of
1-15 funds, other than a transaction originated by check, draft, or
1-16 similar paper instrument, that is initiated through an electronic
1-17 terminal and orders, instructs, or authorizes a financial
1-18 institution to debit or credit an account. The term includes a
1-19 point-of-sale transfer, unmanned teller machine transaction, and
1-20 cash dispensing machine transaction.
1-21 (3) "Financial institution" means a state, national,
1-22 or private bank, savings bank, state or federal savings and loan
1-23 association, thrift company, or credit union.
1-24 (4) "Shared network" means an electronic information
2-1 communication and processing facility used by two or more different
2-2 owners of electronic terminals to receive, transmit, or retransmit
2-3 electronic impulses or other electronic indicia of transactions,
2-4 originating at electronic terminals, to financial institutions or
2-5 to other transmission facilities for the purpose of:
2-6 (A) the withdrawal by a customer of money from
2-7 the customer's account, including a withdrawal pursuant to a line
2-8 of credit previously authorized by a financial institution for the
2-9 customer;
2-10 (B) the deposit of funds by a customer in the
2-11 customer's account with a financial institution;
2-12 (C) the transfer of funds by a customer between
2-13 one or more accounts maintained by the customer with a financial
2-14 institution, including the application of funds against an
2-15 indebtedness of the customer to the financial institution; or
2-16 (D) a request for information by a customer
2-17 concerning the balance of the account of the customer with a
2-18 financial institution.
2-19 Sec. 2. (a) The owner of a point-of-sale terminal that is
2-20 located in this state and that is connected to a shared network may
2-21 impose a fee for the use of that terminal if imposition of the fee
2-22 is disclosed at a time and in a manner that allows a user to avoid
2-23 the transaction without incurring the transaction fee. The owner
2-24 of any other electronic terminal that is located in this state and
2-25 that is connected to a shared network may impose a fee for the use
2-26 of that terminal if imposition of the fee is disclosed at a time
2-27 and in a manner that allows a user to terminate or cancel the
3-1 transaction without incurring the transaction fee.
3-2 (b) An agreement to share electronic terminals may not:
3-3 (1) prohibit, limit, or restrict the right of the
3-4 owner of an electronic terminal to charge a fee described by
3-5 Subsection (a) for the use of its electronic terminal as allowed by
3-6 the laws of this state or of the United States;
3-7 (2) require the owner to limit or waive its rights or
3-8 obligations under this article; or
3-9 (3) otherwise discriminate in any manner against the
3-10 owner as a result of the owner's charging of a fee authorized under
3-11 this article.
3-12 SECTION 2. This Act takes effect September 1, 1995.
3-13 SECTION 3. The importance of this legislation and the
3-14 crowded condition of the calendars in both houses create an
3-15 emergency and an imperative public necessity that the
3-16 constitutional rule requiring bills to be read on three several
3-17 days in each house be suspended, and this rule is hereby suspended.