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Can you summarize MNAC 2675.8100?
FINANCIAL INSTITUTIONS > DEFINITIONS.
Short Summary
This document pertains to the Minnesota Administrative Rules governing the Commerce Department’s Financial Institutions. It provides definitions for various terms used in Minnesota Statutes, sections 47.61 to 47.74, and parts 2675.8100 to 2675.8190. The defined terms include ‘Act’ referring to Minnesota Statutes, sections 47.61 to 47.74, ‘Card’ referring to the access device used to activate a terminal, ‘Card issuer’ referring to a financial institution or authorized person providing the use of a terminal, ‘Control’ referring to ownership or leasehold interest in a terminal, ‘Customer’ referring to a person with a contractual relationship with a financial institution for terminal transactions, ‘Operator’ referring to a person assisting in terminal transactions, ‘Person’ referring to any individual or entity, ‘Personal identification code’ referring to the confidential code necessary for a terminal transaction, ‘Provider’ referring to the person having control over a terminal, ‘Terminal’ referring to an electronic financial terminal, and ‘Transaction’ referring to a financial function performed at a terminal. The document also defines ‘Unauthorized withdrawal’ as a withdrawal without authority and specifies exclusions from the definition. No penalties or exemptions are mentioned in this document.
Whom does it apply to?
Financial institutions, card issuers, customers, operators, and providers
What does it govern?
Minnesota Statutes, sections 47.61 to 47.74 and parts 2675.8100 to 2675.8190
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota