527.4 Establishment of satellite terminals — restrictions. 1. A satellite terminal shall not be established within this state except by a financial institution. 2. A financial institution may establish a satellite terminal at any location within this state. This subsection does not amend, modify, or supersede any provision of chapter 524regulating the number or locations of bank offices of a state or national bank, or authorizethe establishment by a financial institution of any offices or other facilities except satelliteterminals at locations permitted by this subsection. 3. A financial institution whose licensed or principal place of business is not located in this state may establish, control, maintain, or operate any number of satellite terminals atany location within this state if all satellite terminals, wherever located, that are owned,controlled, maintained, or operated by the financial institution are available for use ona nondiscriminatory basis by any other financial institution which engages in electronictransactions in this state and by all customers who have minimum contact with this stateand who have been designated by a financial institution using the satellite titution which engages in electronictransactions in this state and by all customers who have minimum contact with this stateand who have been designated by a financial institution using the satellite terminal andwho have been provided with an access device, approved by the administrator, by which toengage in electronic transactions by means of the satellite terminal. [C77, 79, 81, §527.4]87 Acts, ch 158, §4; 89 Acts, ch 86, §8 – 11; 91 Acts, ch 216, §6; 2000 Acts, ch 1232, §100 – 103, 107 Referred to in §527.2, 527.5 Sat Dec 23 01:30:42 2023 Iowa Code 2024, Section 527.4 (16, 0)
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