Bill Text: IN HB1224 | 2013 | Regular Session | Enrolled
Bill Title: Uniform Commercial Code (UCC) fund transfer provisions.
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Passed) 2013-05-13 - Public Law 39 [HB1224 Detail]
Download: Indiana-2013-HB1224-Enrolled.html
First Regular Session 118th General Assembly (2013)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
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HOUSE ENROLLED ACT No. 1224
AN ACT to amend the Indiana Code concerning commercial law.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 26-1-4.1-108; (13)HE1224.1.1. -->
SECTION 1. IC 26-1-4.1-108 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 108. (a) Except as
provided by subsection (b), IC 26-1-4.1 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.
1693 et seq.) as amended from time to time.
(b) IC 26-1-4.1 applies to a funds transfer that is a remittance transfer as defined in the Electronic Fund Transfer Act (15 U.S.C. 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. 1693a) as amended from time to time.
(c) In a funds transfer to which IC 26-1-4.1 applies, in the event of an inconsistency between an applicable provision of IC 26-1-4.1 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.
(b) IC 26-1-4.1 applies to a funds transfer that is a remittance transfer as defined in the Electronic Fund Transfer Act (15 U.S.C. 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. 1693a) as amended from time to time.
(c) In a funds transfer to which IC 26-1-4.1 applies, in the event of an inconsistency between an applicable provision of IC 26-1-4.1 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: ; (13)HE1224.1.2. -->
SECTION 2. An emergency is declared for this act.
HEA 1224
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