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Can you summarize Tex. Fin. Chapter 59, Subchapter C?
MISCELLANEOUS PROVISIONS > ELECTRONIC TERMINALS
Short Summary
This section of the Texas Statutes governs the installation, maintenance, and operation of electronic terminals for the convenience of customers of financial institutions. It allows persons to install, maintain, and operate electronic terminals at any location. Financial institutions may agree in writing to share the use of an electronic terminal on a reasonable and nondiscriminatory basis, subject to necessary technical standards and charges. The charges imposed must be reasonable, fair, equitable, and nondiscriminatory among financial institutions. However, this section does not apply to electronic terminals located at the domicile or home office or a branch of a financial institution, or to the use of an electronic terminal solely for cash withdrawal, account balance inquiries, or transfers within the same financial institution.
Whom does it apply to?
Persons installing, maintaining, and operating electronic terminals, financial institutions
What does it govern?
Installation, maintenance, and operation of electronic terminals for the convenience of customers of financial institutions
What are exemptions?
Electronic terminals located at the domicile or home office or a branch of a financial institution, or to the use of an electronic terminal solely for cash withdrawal, account balance inquiries, or transfers within the same financial institution
What are the Penalties?
No penalties mentioned
Jurisdiction
Texas