Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as
Public
Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Guide.
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
(810 ILCS 5/4A-201) (from Ch. 26, par. 4A-201) (Text of Section before amendment by P.A. 103-1036) Sec. 4A-201. Security procedure. "Security procedure" means a
procedure established by agreement of a customer and a receiving bank for
the purpose of (i) verifying that a payment order or communication amending
or cancelling a payment order is that of the customer, or (ii) detecting
error in the transmission or the content of the payment order or
communication. A security procedure may require the use of algorithms or
other codes, identifying words or numbers, encryption, callback procedures,
or similar security devices. Comparison of a signature on a payment order
or communication with an authorized specimen signature of the customer is
not by itself a security procedure.(Source: P.A. 86-1291.) (Text of Section after amendment by P.A. 103-1036) Sec. 4A-201. Security procedure. "Security procedure" means a procedure established by agreement of a customer and a receiving bank for the purpose of (i) verifying that a payment order or communication amending or cancelling a payment order is that of the customer, or (ii) detecting error in the transmission or the content of the payment order or communication. A security procedure may impose an obligation on the receiving bank or the customer and may require the use of algorithms or other codes, identifying words, numbers, symbols, sounds, biometrics, encryption, callback procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer or requiring a payment order to be sent from a known email address, IP address, or telephone number is not by itself a security procedure.(Source: P.A. 103-1036, eff. 1-1-25.) |
