FIRST REGULAR SESSION
SENATE BILL NO. 215
93RD GENERAL ASSEMBLY
INTRODUCED BY SENATORS DAYS, DOUGHERTY, WILSON, BRAY AND GREEN.
Read 1st time January 24, 2005, and ordered printed.
TERRY L. SPIELER, Secretary.
0891S.01I
AN ACT
To amend chapter 362, RSMo, by adding thereto one new section relating to electronic transfer of funds by electronic terminals.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Chapter 362, RSMo, is amended by adding thereto one new section, to be known as section 362.1000, to read as follows:
362.1000. No fee for the initiation of an electronic transfer of funds shall be imposed on a person by any financial institution operating an electronic terminal at which the person initiates an electronic transfer of funds provided that the following conditions exist:
(1) The financial institution operating the terminal does not hold the account out of which funds are transferred; and
(2) The electronic transfer utilizes a national or regional communication network to effect the transaction between such person and the financial institution which does hold the account out of which the funds are transferred.