Idaho Code 26-3004 – Exemption From Bank Act and Prohibitions
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 26-3004
- Debit card transaction: means the purchase of either goods or services, or both, whereby payment is made through the means of a point of sale or other payment system maintained by the college or university which results in a charge to a credit balance maintained by a registered student or a member of its faculty or staff with the college or university business office. See Idaho Code 26-3002
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
A college or university offering a debit card program under the provisions of this chapter shall not be considered to be a bank or to be doing banking business as those terms are defined in section 26-106, Idaho Code. Provided however, that a college or university located in this state is prohibited from operating a debit card program which would allow a student or a member of its faculty or staff either to receive cash through a debit card transaction or to receive cash through a customer bank communication terminal or other automated banking facility.