1. Cash-dispensing machines. A person may not establish or operate a cash-dispensing machine unless that person has first complied with the provisions of this subchapter.

[PL 1999, c. 229, §2 (NEW).]

Terms Used In Maine Revised Statutes Title 32 Sec. 6152

  • Cash-dispensing machine: means an electronic device that, operating in conjunction with a processor and network, allows a customer to debit an account in exchange for dispensing cash and that may allow a customer to effectuate account transfers subject to the limitations of section 6152. See Maine Revised Statutes Title 32 Sec. 6151
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Establish: means to own, lease or otherwise legally control. See Maine Revised Statutes Title 32 Sec. 6151
  • Financial institution: means any financial institution as defined in Title 9?B, section 131, subsection 17; any credit union as defined in Title 9?B, section 131, subsection 12; or any bank, commercial bank, savings bank, trust company, building and loan association, savings and loan association, savings association, cooperative bank, credit union or similar banking or credit union organization chartered by any other state or by the Federal Government. See Maine Revised Statutes Title 32 Sec. 6151
  • Person: means an individual, partnership, corporation or other business association recognized under state law. See Maine Revised Statutes Title 32 Sec. 6151
  • United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
2. Limitations. A cash-dispensing machine:
A. May not accept deposits or loan payments or effectuate account transfers other than those transfers between the customer’s accounts in the same financial institution; and [PL 1999, c. 229, §2 (NEW).]
B. Must be operated in such a way as to comply with the Electronic Funds Transfer Act, 15 United States Code § 1693 et seq. or regulations adopted under that Act. [PL 1999, c. 229, §2 (NEW).]

[PL 1999, c. 229, §2 (NEW).]

SECTION HISTORY

PL 1999, c. 229, §2 (NEW).