Title XIII, COMMERCE (Ch. 505 - 554I)

As used in this chapter , the following definitions shall apply unless the context otherwise requires: 1. “Access device” means a card, code, or other mechanism, or any combination thereof, that may be used by a customer for the purpose of initiating a transaction by means of a s…

1. For purposes of this chapter the superintendent of banking only has the power to issue rules applicable to, to accept and approve or disapprove applications or informational statements from, to conduct hearings and revoke any approvals relating to, and to exercise all other su…

1. A satellite terminal shall not be established within this state except by a financial institution. 2. A financial institution may establish a satellite terminal at any location within this state. This subsection does not amend, modify, or supersede any provision of chapter 524…

A satellite terminal may be utilized by a financial institution to the extent permitted in this chapter only if the satellite terminal is utilized and maintained in compliance with the provisions of this chapter and only if all of the following are complied with: 1. A satellite t…

1. All transactions engaged in through a satellite terminal shall be recorded in a form from which it will be possible to produce a humanly readable record of any transaction, and these recordings shall be retained by the utilizing financial institutions for the periods required …

Transactions initiated at a satellite terminal which do not involve the use of an access device to directly or indirectly affect a customer asset account are not governed by this chapter . 91 Acts, ch 216, §13

1. A central routing unit shall not be operated in this state unless written approval for that operation has been obtained from the administrator. 2. a. A person desiring to operate a central routing unit shall submit to the administrator an application which shall contain all of…