Texas Finance Code - Section 59.201. Electronic Terminals Authorized; Sharing Of Electronic Terminal
Legal Research Home >
Texas Lawyer > Finance Code > Texas Finance Code - Section 59.201. Electronic Terminals Authorized; Sharing Of Electronic Terminal
§ 59.201. ELECTRONIC TERMINALS AUTHORIZED; SHARING OF
ELECTRONIC TERMINAL. (a) A person may install, maintain, and
operate one or more electronic terminals at any location for the
convenience of customers of financial institutions.
(b) Financial institutions may agree in writing to share in
the use of an electronic terminal on a reasonable,
nondiscriminatory basis and on the condition that a financial
institution using an electronic terminal may be required to meet
necessary and reasonable technical standards and to pay charges for
the use of the electronic terminal. The standards or charges
imposed must be reasonable, fair, equitable, and nondiscriminatory
among the financial institutions. Any charges imposed:
(1) may not exceed an equitable proportion of the cost
of establishing the electronic terminal, including provisions for
amortization of development costs and capital expenditures over a
reasonable period, and the cost of operation and maintenance of the
electronic terminal, plus a reasonable return on those costs; and
(2) must be related to the services provided to the
financial institution or its customers.
(c) This section does not apply to:
(1) an electronic terminal located at the domicile or
home office or a branch of a financial institution; or
(2) the use by a person of an electronic terminal,
regardless of location, solely to withdraw cash, make account
balance inquiries, or make transfers between the person's accounts
in the same financial institution.
(d) In this section, the term "financial institution" has
the meaning assigned by Section 201.101.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 1999, 76th Leg., ch. 356, § 1, eff. Aug. 30, 1999; Acts
1999, 76th Leg., ch. 344, § 2.017, eff. Sept. 1, 1999; Acts
2001, 77th Leg., ch. 412, § 2.16, eff. Sept. 1, 2001.
Section: 59.104 59.105 59.106 59.107 59.108 59.109 59.110 59.201 59.202 59.301 59.302 59.303 59.304 59.305 59.306
Last modified: August 10, 2007
|
