100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB1566

 

Introduced , by Rep. Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
815 ILCS 140/1  from Ch. 17, par. 6001

    Amends the Credit Card Issuance Act. Makes a technical change in a Section concerning definitions.


LRB100 03440 JLS 13445 b

 

 

A BILL FOR

 

HB1566LRB100 03440 JLS 13445 b

1    AN ACT concerning business.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Credit Card Issuance Act is amended by
5changing Section 1 as follows:
 
6    (815 ILCS 140/1)  (from Ch. 17, par. 6001)
7    Sec. 1. As used in this Act:
8    (a) "Credit card" has the the meaning set forth in Section
917-0.5 of the Criminal Code of 2012, but does not include
10"debit card" as defined in that Section, which can also be used
11to obtain money, goods, services and anything else of value on
12credit, nor shall it include any negotiable instrument as
13defined in the Uniform Commercial Code, as now or hereafter
14amended;
15    (b) "Merchant credit card agreement" means a written
16agreement between a seller of goods, services or both, and the
17issuer of a credit card to any other party, pursuant to which
18the seller is obligated to accept credit cards; and
19    (c) "Credit card transaction" means a purchase and sale of
20goods, services or both, in which a seller, pursuant to a
21merchant credit card agreement, is obligated to accept a credit
22card and does accept the credit card in connection with such
23purchase and sale.

 

 

HB1566- 2 -LRB100 03440 JLS 13445 b

1(Source: P.A. 96-1551, eff. 7-1-11; 97-1150, eff. 1-25-13.)