S.P. 101 - L.D. 240
An Act to Amend the Maine Banking Code as it Pertains to ATM Surcharges
Emergency preamble. Whereas, Acts of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and
Whereas, the passage of this legislation will benefit Maine consumers by allowing banks and credit unions to enter into agreements not to impose automatic teller machine surcharges; and
Whereas, Maine banks and credit unions have currently entered into these agreements and are seeking to enter into these agreements; and
Whereas, this legislation clarifies that these agreements are permissible under Maine law; and
Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 9-B MRSA §243-A, sub-§3, as corrected by RR 1997, c. 2, §36, is amended to read:
3. Agreement to share electronic terminals. An agreement to share electronic terminals may not prohibit, limit or restrict the right of a financial institution authorized to do business in this State to charge a customer any fees allowed by state or federal law, or require a financial institution to limit or waive its rights or obligations under this section. This subsection applies to all agreements to share use of electronic terminals in existence on or entered into after June 30, 1992 , except that a financial institution or credit union authorized to do business in this State may mutually agree with one or more other financial institutions or credit unions not to charge foreign transaction fees, as that term is defined in subsection 1, to the customers or members of those financial institutions or credit unions that are parties to the agreement.
Emergency clause. In view of the emergency cited in the preamble, this Act takes effect when approved.
Effective March 22, 1999.
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