(205 ILCS 616/15)
Exemptions and limitations.
(a) A seller of goods and services on
whose premises one
or more terminals are established is not, solely by virtue of such
establishment or solely by virtue of the
processing of interchange transactions in connection with the sale of goods and
services, a financial institution and is not subject to the laws governing, or
other requirements imposed on, financial institutions.
(b) Nothing contained in this Act shall authorize the Commissioner to
regulate the conduct of business functions or to obtain access to any business
records, data, or information of a seller of goods and services that operates a
terminal, except as may otherwise be provided by law; nor shall this Act be
construed to prohibit or to authorize the Commissioner to prohibit a seller of
goods and services from using a terminal to perform internal proprietary
functions, including extensions of credit pursuant to an open end credit plan.
(c) The provision of facilities or services by a public utility subject
to the Public Utilities Act
in connection with an electronic fund transfer system does not subject
the public utility to this Act.
(d) A financial institution is not subject to the Public Utilities Act
solely by reason of acts
undertaken in connection with an electronic fund transfer system under this Act
unless the financial institution performs acts as a public utility or a common
carrier of communications services.
(Source: P.A. 89-310, eff. 1-1-96.)