Places a $1 cap on automated teller machines fees.

A BILL FOR AN ACT

SECTION 1. Chapter 412, Hawaii Revised Statutes, is amended by adding a new section to article 2 to be appropriately designated and to read as follows:

"§412:2 Automated teller machine fees. A financial institution that operates an automated teller machine in this State may impose a transaction fee of not more than $1.00 per transaction on any person."

SECTION 2. Section 412:10-703, Hawaii Revised Statutes, is amended to read as follows:

"§412:10-703 Money-type instruments. A credit union may collect, receive, and disburse [monies] moneys in connection with the providing of negotiable checks, money orders, travelers checks, and other money-type instruments, and the providing of services through automated teller machines and for such other purposes as may provide benefit or convenience to its members. A credit union may charge for such services[.], except that no credit union shall impose a transaction fee of more than $1.00 per transaction on any person for use of an automated teller machine."

SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 4. This Act shall take effect upon its approval.