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Code · Michigan · Chapter 488 — Electronic Funds Transfers

488.11 Funds transmission facility; establishment, operation, or availability; exemption of internal computer system.

123 words·~1 min read·/mi/chapter-488/488-11

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488.11 Funds transmission facility; establishment, operation, or availability; exemption of internal computer system.
Sec. 11.
(1)A person may establish, operate, or make available a funds transmission facility anywhere in this state subject to this section and sections 12 to 28.
(2)A funds transmission facility shall be available for use by any financial institution using the electronic funds transfer terminals which are interconnected with the funds transmission facilities on a nondiscriminatory basis upon request of a financial institution and agreement by the financial institution to pay reasonable fees.
(3)This section shall not be construed to include a financial institution's internal computer system when used for purposes other than as a funds transmission facility.
History: 1978, Act 322, Eff. Jan. 1, 1979
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