By Cain S.B. No. 661
74R5644 LJR-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to transaction fees for the use of an electronic terminal
1-3 connected to a shared electronic network.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Chapter IX, The Texas Banking Code (Article
1-6 342-901 et seq., Vernon's Texas Civil Statutes), is amended by
1-7 adding Article 3d to read as follows:
1-8 Art. 3d. TRANSACTION FEES FOR SHARED ELECTRONIC TERMINALS
1-9 Sec. 1. In this article:
1-10 (1) "Electronic terminal" means an electronic device,
1-11 other than a telephone, through which a consumer may initiate an
1-12 electronic fund transfer. The term includes a point-of-sale
1-13 terminal, an unmanned teller machine, and a cash dispensing
1-14 machine.
1-15 (2) "Electronic fund transfer" means any transfer of
1-16 funds, other than a transaction originated by check, draft, or
1-17 similar paper instrument, that is initiated through an electronic
1-18 terminal and orders, instructs, or authorizes a financial
1-19 institution to debit or credit an account. The term includes a
1-20 point-of-sale transfer, unmanned teller machine transaction, and
1-21 cash dispensing machine transaction.
1-22 (3) "Financial institution" means a state, national,
1-23 or private bank, savings bank, state or federal savings and loan
1-24 association, thrift company, or credit union.
2-1 (4) "Shared network" means an electronic information
2-2 communication and processing facility used by two or more different
2-3 owners of electronic terminals to receive, transmit, or retransmit
2-4 electronic impulses or other electronic indicia of transactions,
2-5 originating at electronic terminals, to financial institutions or
2-6 to other transmission facilities for the purpose of:
2-7 (A) the withdrawal by a customer of money from
2-8 the customer's account, including a withdrawal pursuant to a line
2-9 of credit previously authorized by a financial institution for the
2-10 customer;
2-11 (B) the deposit of funds by a customer in the
2-12 customer's account with a financial institution;
2-13 (C) the transfer of funds by a customer between
2-14 one or more accounts maintained by the customer with a financial
2-15 institution, including the application of funds against an
2-16 indebtedness of the customer to the financial institution; or
2-17 (D) a request for information by a customer
2-18 concerning the balance of the account of the customer with a
2-19 financial institution.
2-20 Sec. 2. (a) The owner of an electronic terminal that is
2-21 located in this state and that is connected to a shared network may
2-22 impose a fee for the use of that terminal if imposition of the fee
2-23 is disclosed at a time and in a manner that allows a user to
2-24 terminate or cancel the transaction without incurring the
2-25 transaction fee.
2-26 (b) An agreement to share electronic terminals may not:
2-27 (1) prohibit, limit, or restrict the right of the
3-1 owner of an electronic terminal to charge a fee described by
3-2 Subsection (a) for the use of its electronic terminal as allowed by
3-3 the laws of this state or of the United States;
3-4 (2) require the owner to limit or waive its rights or
3-5 obligations under this article; or
3-6 (3) otherwise discriminate in any manner against the
3-7 owner as a result of the owner's charging of a fee authorized under
3-8 this article.
3-9 SECTION 2. This Act takes effect September 1, 1995.
3-10 SECTION 3. The importance of this legislation and the
3-11 crowded condition of the calendars in both houses create an
3-12 emergency and an imperative public necessity that the
3-13 constitutional rule requiring bills to be read on three several
3-14 days in each house be suspended, and this rule is hereby suspended.