T26CH30
Title 26 > T26CH30
Sections (4)
26-3001
TITLE 26 BANKS AND BANKING CHAPTER 30 UNIVERSITY DEBIT CARD ACT 26-3001. Title and scope. (1) This chapter shall be known and cited as the University Debit Card Act. (2) This chapter is intended to grant authority to and set forth the terms and conditions under which colleges and universities located in Idaho may offer debit card programs to their student bodies, faculty and staff. History: [26-3001, added 1995, ch. 133, sec. 1, p. 579.]
26-3002
TITLE 26 BANKS AND BANKING CHAPTER 30 UNIVERSITY DEBIT CARD ACT 26-3002. Definitions. As used in this chapter and unless the context otherwise requires: (1) 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. (2) University debit card means a card issued by a college or university located in this state to a registered student or a member of its faculty or staff which permits such persons to draw against funds on deposit with the college or university business office for the purchase of goods or services. (3) University debit card program means a financial arrangement whereby a college or university allows a registered student or a member of its faculty or staff to place funds on deposit with the college or university business office against which such persons may draw, through a debit card transaction, for the purchase of either goods or services or both. History: [26-3002, added 1995, ch. 133, sec. 1, p. 579.]
26-3003
TITLE 26 BANKS AND BANKING CHAPTER 30 UNIVERSITY DEBIT CARD ACT 26-3003. Debit card authority and bond. (1) Any college or university located in Idaho may make available to its student body and to members of its faculty and staff a university debit card program. A debit card transaction may be used only to purchase goods or services from the college or university or through its approved vendor located on the principal campus of the college or university, which goods or services traditionally are provided by a college or university to its students, faculty or staff. (2) A surety bond in a form approved by the governing authority of the college or university in the amount of ten thousand dollars ($10,000) shall be maintained for each employee of the college or university with access to the funds maintained in the university debit card program. History: [26-3003, added 1995, ch. 133, sec. 1, p. 580.]
26-3004
TITLE 26 BANKS AND BANKING CHAPTER 30 UNIVERSITY DEBIT CARD ACT 26-3004. Exemption from bank act and prohibitions. 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. History: [26-3004, added 1995, ch. 133, sec. 1, p. 580.]