Michigan Laws 432.209a – Electronic funds transfer terminal
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 432.209a
- Casino: means a building or buildings in which gaming is conducted. See Michigan Laws 432.202
- 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
- Person: means an individual, corporation, limited liability company, association, partnership, limited liability partnership, trust, or other legal entity. See Michigan Laws 432.202
(1) A person who holds a casino license shall not install, own, or operate or allow another person to install, own, or operate an electronic funds transfer terminal on the premises of the casino that is less than 50 feet from any game in the casino.
(2) A person who holds a casino license shall not install, own, or operate or allow another person to install, own, or operate on the premises of the casino a game that is played with a device that allows a player to operate the game by transferring funds electronically from a credit or debit card. This subsection does not apply to sports betting.
(3) As used in this section, “electronic funds transfer terminal” means an information processing device used for the purpose of executing deposit account transactions between financial institutions and their customers by either the direct transmission of electronic impulses or the recording of electronic impulses for delayed processing. The fact that a device is used for other purposes does not prevent it from being an electronic funds transfer terminal except a player’s mobile or other personal device is not an electronic funds transfer terminal.