Section 488.29 – Wilful Violation as Misdemeanor; Penalty.
488.29 Wilful violation as misdemeanor; penalty. Sec. 29. A person who wilfully violates this act is guilty of a misdemeanor, punishable by a fine of not more than $10,000.00. History: 1978, Act 322, Eff. Jan. 1, 1979
Section 488.30 – Conditional Effective Date.
488.30 Conditional effective date. Sec. 30. This act shall not take effect unless House Bill No. 4554 of the 1977 regular session of the legislature is enacted into law. History: 1978, Act 322, Eff. Jan. 1, 1979
Section 488.31 – Effective Date.
488.31 Effective date. Sec. 31. This act shall take effect January 1, 1979. History: 1978, Act 322, Eff. Jan. 1, 1979
Section 488.21 – Civil Action for Violation; Liability.
488.21 Civil action for violation; liability. Sec. 21. (1) A person may bring a civil action against a person violating section 13, 14, 15, 16, 17, 18, 19, or 20 in any court having jurisdiction. Upon adverse adjudication, the defendant shall be liable for actual damages or $1,000.00, whichever is greater. (2) If a violation […]
Section 488.22 – Monitoring and Analyzing Developments Within Field of Electronic Fund Transfers; Report; Effecting Provisions of Section.
488.22 Monitoring and analyzing developments within field of electronic fund transfers; report; effecting provisions of section. Sec. 22. The commissioner of the financial institutions bureau shall monitor and analyze developments within the field of electronic fund transfers and shall 1 year after the effective date of this act, submit a written report to the house […]
Section 488.23 – Restraining Trade or Engaging in Anticompetitive Practices.
488.23 Restraining trade or engaging in anticompetitive practices. Sec. 23. A person providing services of a funds transfer facility and a financial institution using a funds transfer facility shall not contract, combine, conspire, or otherwise attempt to restrain trade in a market for services of funds transfer facilities or engage in anticompetitive practices to the […]
Section 488.24 – Unauthorized Transactions Prohibited.
488.24 Unauthorized transactions prohibited. Sec. 24. A funds transfer facility shall not be used to facilitate or effect a transaction with a financial institution, which transaction the financial institution is not otherwise authorized by law to transact. History: 1978, Act 322, Eff. Jan. 1, 1979
Section 488.25 – Applicability of Antitrust Laws.
488.25 Applicability of antitrust laws. Sec. 25. This act shall not be construed or applied to preclude the enforcement of, exempt from, or otherwise immunize a person subject to this act from the antitrust laws of this state or of the United States. History: 1978, Act 322, Eff. Jan. 1, 1979
Section 488.26 – Application of State or Federal Statute to Credit or Deposit Account Relationships.
488.26 Application of state or federal statute to credit or deposit account relationships. Sec. 26. In the application of any state or federal statute to credit or deposit account relationships, the transfer of funds by use of a funds transfer facility shall constitute only an additional means of effecting a payment, and this act shall […]
Section 488.27 – Unjust Denial of Access; Unfairly Discriminatory Sharing Requirements; Arbitration; Judgment; Redress in Circuit Court.
488.27 Unjust denial of access; unfairly discriminatory sharing requirements; arbitration; judgment; redress in circuit court. Sec. 27. A financial institution seeking to share a funds transfer facility pursuant to this act, and believing that it has been unjustly denied access or that the sharing requirements for its participation are unfairly discriminatory may seek a settlement […]