HOUSE BILL No. 4892 June 5, 1997, Introduced by Reps. Thomas, Freeman, McBryde, Kelly, Prusi, Schauer, Frank, Harder, Hale, Voorhees, Kilpatrick, Martinez, Brater, Bogardus, Wojno, Willard, Hanley, Brewer, Scott, Goschka, Parks, Anthony, Cropsey, Gire, Tesanovich, Wetters, Quarles, Varga, Schermesser, Byl, McNutt and DeHart and referred to the Committee on Commerce. A bill to amend 1980 PA 307, entitled "Savings and loan act of 1980," (MCL 491.102 to 491.1201) by adding section 1135. THE PEOPLE OF THE STATE OF MICHIGAN ENACT: 1 SEC. 1135. (1) AS USED IN THIS SECTION: 2 (A) "ATM" MEANS AN AUTOMATIC TELLER MACHINE OR OTHER DEVICE 3 THAT PERMITS A PERSON TO ELECTRONICALLY TRANSACT BUSINESS WITH 4 HIS OR HER FINANCIAL INSTITUTION. 5 (B) "FINANCIAL INSTITUTION" MEANS A STATE OR NATIONALLY 6 CHARTERED BANK OR A STATE OR FEDERALLY CHARTERED SAVINGS AND LOAN 7 ASSOCIATION, SAVINGS BANK, OR CREDIT UNION. 8 (2) IF AN ASSOCIATION ASSESSES OR IMPOSES A FEE OR CHARGE 9 FOR THE USE OF AN ATM OF THE ASSOCIATION, PRIOR TO THE COMPLETION 10 OF THE ATM TRANSACTION, THE ASSOCIATION SHALL NOTIFY THE PERSON 03277'97 c SAT 2 1 USING THE ATM OF THE FEE OR CHARGE AND THE AMOUNT THAT WILL BE 2 ASSESSED OR IMPOSED. 3 (3) IF THE PERSON ATTEMPTING TO USE THE ASSOCIATION'S ATM IS 4 ACCESSING AN ACCOUNT IN ANOTHER FINANCIAL INSTITUTION, THEN IN 5 ADDITION TO THE INFORMATION REQUIRED TO BE DISCLOSED UNDER SUB- 6 SECTION (1), THE ASSOCIATION SHALL ALSO NOTIFY THE PERSON THAT 7 HIS OR HER FINANCIAL INSTITUTION MAY ASSESS OR IMPOSE AN ADDI- 8 TIONAL FEE OR CHARGE. 9 (4) THE PERSON ATTEMPTING TO USE THE ASSOCIATION'S ATM SHALL 10 BE ABLE TO CANCEL THE TRANSACTION AT ANY TIME WITHOUT INCURRING A 11 FEE OR CHARGE. 03277'97 c Final page. SAT