Sen. Kirk W. Dillard
Filed: 3/15/2005
 
 

 




 

 		












09400SB1647sam001

LRB094 04037 WGH 43732 a






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AMENDMENT TO SENATE BILL 1647




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    AMENDMENT NO. ______. Amend Senate Bill 1647 on page 9, by 
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replacing lines 15 through 17 with the following:
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    "(20) "Good faith" means honesty in fact in the conduct or 
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transaction concerned."; and

 

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by replacing lines 22 through 33 on page 27,  all of page 28, 
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and lines 1 through 18 on page 29 with the following:
 
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    "(810 ILCS 5/1-301 new)

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    Sec. 1-301. Territorial applicability; parties' power to 
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choose applicable law.
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    (a) Except as otherwise provided in this Section, when a 
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transaction bears a reasonable relation to this State and also 
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to another state or nation the parties may agree that the law 
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either of this State or of such other state or nation shall 
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govern their rights and duties.
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    (b) In the absence of an agreement effective under 
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subsection (a), and except as provided in subsection (c), the 
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Uniform Commercial Code applies to transactions bearing an 
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appropriate relation to this state.
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    (c) If one of the following provisions of the Uniform 
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Commercial Code specifies the applicable law, that provision 
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governs and a contrary agreement is effective only to the 
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extent permitted by the law so specified:
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        (1)  Section 2-402;
 


 






09400SB1647sam001
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LRB094 04037 WGH 43732 a




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        (2)  Sections 2A-105 and 2A-106;
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        (3)  Section 4-102;
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        (4)  Section 4A-507;
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        (5)  Section 5-116;
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        (6)  Section 8-110;
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        (7)  Sections 9-301 through 9-307."; and
 
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by replacing lines 12 through 33 on page 33 and lines 1 through 
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33 on page 34 with the following:
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"changing  Sections 2-202, 2-208, 2A-207, 2A-501, 2A-518, 
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2A-519, 2A-527, 2A-528, 3-103, 4A-105, 4A-106, 4A-204, and 
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5-103 as follows:"; and
 

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by deleting lines 3 through 35 on page 36,  all of pages 37 
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through 40, and lines 1 through 24 on page 41; and
 
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on page 47, by replacing lines 15 through 17 with the 
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following:

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        "(4) "Good faith" means honesty in fact and the 
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    observance of
reasonable commercial standards of fair 
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    dealing."; and
 

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by deleting lines 30 through 35 on page 49,  all of pages 50 and 
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51, and lines 1 through 7 on page 52; and
 
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on page 53, by replacing lines 1 through 3 with the following:

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        "(6) "Good faith" means honesty in fact and the 
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    observance of reasonable
commercial standards of fair 
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    dealing."; and
 

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by deleting lines 12 through 35 on page 56 and  all of pages 57 
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through 76.