Any person, other than a state or federal savings
association, savings bank or credit union, or state or national bank, seeking
approval to establish and maintain a terminal or terminals at a specific
location shall, not less than 45 days before the establishment of the terminal
or terminals, file with the commissioner an application in a form provided by
the commissioner entitled "Electronic Financial Terminal Authorization
Application." Such application shall include the following information:
A. name and principal address of the
controlling person filing the application;
B. the name and principal address of any
other person or persons having control thereof, if other than the
applicant;
C. descriptive
information, including the number of terminals applied for, the location of
each terminal by street address or other designation (including city and
county);
D. whether the terminal
will be attended or unattended and, if attended, by whose employees or agents
as operators;
E. the transactions
to be performed at the terminal;
F.
schedule of charges to be paid to the provider by those financial institutions
sharing the terminal or terminals;
G. a complete description of the physical and
technical operation standards pertaining to the terminal, including information
and specifications necessary to enable a financial institution that is eligible
to share the terminal to obtain interface with the terminal, which description
may be limited to the manufacturer, model number, and type of the terminal
after a model of a terminal has been certified by the commissioner;
H. operational information, including the
manner in which the terminal is activated, anticipated hours of use,
anticipated date of first use of the terminal following approval by the
commissioner;
I. all agreements
used or intended to be used relating to the ownership, operation, and control
of the terminal;
J. a description
of the safeguards to be used to meet the terminal security requirements of
Minnesota Statutes, section
47.68;
K. a description of the procedures to be used
to meet the customer privacy requirements of Minnesota Statutes, section
47.69,
subdivision 1;
L. a description of
the procedures to be used to minimize losses due to unauthorized withdrawals
from customer accounts by use of a terminal as required by Minnesota Statutes,
section
47.69,
subdivision 3, including procedures:
(1) for
the use of a personal identification code as a means of verification of the
authenticity of transactions to be completed at a terminal; and
(2) that prevent the personal identification
code from being implemented or made available to the customer until the
financial institution issuing the card has received the customer's signed
contract or the card has been validated according to the procedures for
issuance of access devices in Code of Federal Regulations, title 12, part
205.5, Electronic Fund Transfers;
M. evidence of the bond or other means
adopted to comply with Minnesota Statutes, section
47.64,
subdivision 5; and
N. certification
under oath by the applicant that all requirements of the act and of parts
2675.8100 to
2675.8190 pertaining to the
provider of a terminal shall be met and shall be observed.
