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.
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