State Codes and Statutes
Statutes > Michigan > Chapter-488 > Act-322-of-1978 > Section-488-11ELECTRONIC FUNDS TRANSFERS (EXCERPT)
Act 322 of 1978
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
