Bill Text: IL SB2186 | 2013-2014 | 98th General Assembly | Chaptered

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Bill Title: Amends the Uniform Commercial Code. Provides that the Funds Transfers Article of the Code applies to certain funds transfers that are remittance transfers under the federal Electronic Fund Transfer Act. Provides that the federal Electronic Fund Transfer Act controls in the event of an inconsistency between that Act and the Funds Transfer Article of the Uniform Commercial Code.

Spectrum: Moderate Partisan Bill (Democrat 4-1)

Status: (Passed) 2013-08-16 - Public Act . . . . . . . . . 98-0498 [SB2186 Detail]

Download: Illinois-2013-SB2186-Chaptered.html

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Public Act 098-0498
SB2186 Enrolled LRB098 08539 JLS 38651 b
AN ACT concerning business transactions.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Uniform Commercial Code is amended by
changing Section 4A-108 as follows:
(810 ILCS 5/4A-108) (from Ch. 26, par. 4A-108)
Sec. 4A-108. Exclusion of consumer transactions governed
by federal law.
(a) Except as provided in subsection (b), this This Article
does not apply to a funds transfer any part of which is
governed by the Electronic Fund Transfer Act of 1978 (Title XX,
Public Law 95-630, 92 Stat. 3728, 15 U.S.C. Section 1693 et
seq.) as amended from time to time.
(b) This Article applies to a funds transfer that is a
remittance transfer as defined in the Electronic Fund Transfer
Act (15 U.S.C. Sec. 1693o-1), as amended from time to time,
unless the remittance transfer is an electronic fund transfer
as defined in the Electronic Fund Transfer Act (15 U.S.C. Sec.
1693a), as amended from time to time.
(c) In a funds transfer to which this Article applies, in
the event of an inconsistency between an applicable provision
of this Article and an applicable provision of the Electronic
Fund Transfer Act, the provision of the Electronic Fund

Transfer Act governs to the extent of the inconsistency.
(Source: P.A. 86-1291.)