Section 1. As used in this chapter, the following words shall, unless the context clearly requires otherwise, have the following meanings:?
''Accepted access device'', an access device to a consumer's account for the purpose of initiating electronic fund transfers when the consumer to whom such card, code or other means of access was issued has requested, received and signed a receipt for, or has signed, or has used, or authorized another to use such card, code or other means of access for the purpose of transferring money between accounts or obtaining money, property, labor or services.
''Access device'', a card, code or other means of access or any combination thereof, other than a check, draft or similar paper instrument, by the use of which a consumer may initiate an electronic fund transfer.
''Account'', demand deposit, negotiable withdrawal order account, savings deposit, share account or other consumer asset account, other than an occasional or incidental credit balance in an open-end-credit plan as defined in section 1 of chapter 140D, established primarily for personal, family or household purposes; provided, however, such term shall not include an account held by a financial institution pursuant to a bona fide trust agreement.
''Bureau'', the federal Bureau of Consumer Financial Protection.
''Business day'', any day on which the offices of the consumer's financial institution involved in an electronic fund transfer are open to the public for carrying on substantially all of its business functions.
''Central routing unit'', a facility where electronic impulses or other indicia of a transaction originating at an electronic branch are received and are routed and transmitted to a financial institution, or to a data processing center or to another central routing unit, wherever located.
''Commissioner'', the commissioner of banks.
''Consumer'', a natural person.
''Data processing center'', a facility, wherever located, at which electronic impulses or other indicia of a transaction originating at an electronic branch are received and are processed in order to enable the electronic branch to perform any authorized function.
''Electronic branch'', an electronic device, other than a telephone operated by a consumer, through which a consumer may initiate an electronic fund transfer. Such term includes, but is not limited to automated teller machines and cash dispensing machines. Such term shall not include a teller machine or similar device located on the premises of and operated solely by an employee of a financial institution or a point-of-sale terminal.
''Electronic fund transfer'', any transfer of funds, other than a transaction originated by check, draft or similar paper instrument, which is initiated through an electronic branch telephone instrument, or computer or magnetic tape or point-of-sale terminal so as to order, instruct or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, direct deposits or withdrawals of funds and transfers initiated by telephone. Such term shall not include:
(a) a check guarantee or authorization service which does not directly result in a debit or credit to a consumer's account;
(b) any transfer of funds, other than those processed by automated clearinghouse, made by a financial institution on behalf of a consumer by means of a service that transfers funds held at either Federal Reserve banks or other depository institutions and which is not designed primarily to transfer funds on behalf of a consumer;
(c) any transfer, the primary purpose of which is the purchase or sale of securities or commodities regulated by the Securities and Exchange Commission or the Commodities Futures Trading Commission;
(d) any transfer under an agreement between a consumer and a financial institution which provides that the institution will initiate individual transfers without a specific request from the consumer (1) between a consumer's accounts within the financial institution, such as a transfer from a checking account to a savings account, (2) into a consumer's account by the financial institution, such as the crediting of interest to a savings account; provided that the financial institution shall be subject to clause (2) of section 7 and sections 20 and 21 or (3) from a consumer's account to an account of the financial institution, such as a loan payment; provided that the financial institution shall be subject to clause (1) of section 7 and sections 20 and 21; or
(e) any transfer of funds which is initiated by a telephone conversation between a consumer and an officer or employee of a financial institution which is not pursuant to a prearranged plan and under which periodic or recurring transfers are not contemplated.
''Error'', an error consists of:
(1) an unauthorized electronic fund transfer;
(2) an incorrect electronic fund transfer from or to the consumer's account;
(3) the omission from a periodic statement of an electronic fund transfer affecting the consumer's account which should have been included;
(4) a computational error by the financial institution;
(5) the consumer's receipt of an incorrect amount of money from an electronic branch;
(6) a consumer's request for additional information or clarification concerning an electronic fund transfer or any documentation required by this chapter; or
(7) any other error described in regulations of the commissioner.
''Financial institution'', any person who (a) directly or indirectly holds an account belonging to a consumer or (b) issues an access device and agrees with a consumer to provide electronic fund transfer services; provided, however, that a person shall not include a co-operative bank, a credit union, a federal bank, a foreign bank, an out-of-state bank, an out of state federal bank, a savings bank or a trust company, as defined in section 1 of chapter 167, and a federal credit union and a foreign credit union, as defined in section 1 of chapter 171.
''Merchant'', any person, corporation, association, partnership or other entity which provides a location for a point-of-sale terminal and contracts with a financial institution or an approved organization for electronic fund transfer services.
''Non-bank ATM provider'', a person holding a consumer's account, providing or making available electronic fund transfer services to consumers through a non-bank electronic branch; provided, however, that ''non-bank ATM provider'' shall not include a bank, a federal bank, an out-of-state bank and an out-of-state federal bank, as defined in section 1 of chapter 167, or a credit union, a federal credit union and a foreign credit union, as defined in section 1 of chapter 171.
''Non-bank electronic branch'', an electronic branch owned, leased or operated by a non-bank ATM provider; provided, however, that ''non-bank electronic branch'' shall not include a point of sale terminal owned or operated by a merchant.
''Official bureau interpretation'', a formal interpretation issued by the bureau and designated by the bureau as constituting an official bureau interpretation.
''Official staff interpretation'', an interpretation issued by an official duly authorized by the bureau to issue such interpretation and designated by the official as constituting an official staff interpretation.
''Organization'', any person, corporation, association or partnership which assists or provides services to a financial institution or merchant in order to make available electronic fund transfers; provided, however, that a financial institution or merchant shall not be considered an organization.
''Point-of-sale terminal'', an electronic terminal located on the premises of a merchant when such terminal is used with the assistance of an employee of a merchant for a customer's purchase or lease of goods or services sold or leased by such merchant or adjustments thereto or the receipt of cash by the customer which is ancillary to the customer's purchase or lease of goods or services from such merchant; provided, however, that such terminal shall be deemed an electronic branch for the purposes of this chapter whenever it is used for any other electronic fund transfer, or for an electronic fund transfer involving a customer's account held by an organization, or for an electronic fund transfer solely for customers of a single financial institution or bank holding company subject to chapter 167A or the federal Bank Holding Company Act of 1956, 12 U.S.C. section 1841 et seq.
''Preauthorized electronic fund transfers'', an electronic fund transfer authorized in advance to recur at substantially regular intervals.
''Unauthorized electronic fund transfer'', an electronic fund transfer from a consumer's account initiated by a person other than the consumer without actual authority to initiate such transfer and from which the consumer receives no benefit; provided, however, that ''unauthorized electronic fund transfer'' shall not include any electronic fund transfer (a) initiated by a person other than the consumer who was intentionally furnished with the access device to such a consumer's account by such a consumer unless the consumer has notified the financial institution involved that transfers by such other person are no longer authorized, or (b) initiated with fraudulent intent by the consumer or any person acting in concert with the consumer.