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Public Act 098-0498
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| SB2186 Enrolled | LRB098 08539 JLS 38651 b |
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AN ACT concerning business transactions.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Uniform Commercial Code is amended by |
changing Section 4A-108 as follows:
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(810 ILCS 5/4A-108) (from Ch. 26, par. 4A-108)
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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,
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Public Law 95-630, 92 Stat. 3728, 15 U.S.C. Section 1693 et |
seq.) as
amended from time to time.
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(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 |