102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB1119

 

Introduced 2/25/2021, by Sen. Don Harmon

 

SYNOPSIS AS INTRODUCED:
 
205 ILCS 616/45

    Amends the Electronic Fund Transfer Act. Makes a technical change in a Section relating to access to terminals.


LRB102 04903 BMS 14922 b

 

 

A BILL FOR

 

SB1119LRB102 04903 BMS 14922 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Electronic Fund Transfer Act is amended by
5changing Section 45 as follows:
 
6    (205 ILCS 616/45)
7    Sec. 45. Nondiscriminatory access.
8    (a) Subject to the the provisions of Section 35 of this
9Act, use of a terminal through access to a switch and use of
10any switch shall be available on a nondiscriminatory basis to
11any switch or financial institution that has its principal
12place of business within this State. The terms and conditions
13of use shall be governed by a written agreement between the
14network and the financial institution or other switch
15obtaining the use. The written agreement shall specify all of
16the terms and conditions under which the network may be
17utilized, including commercially reasonable fees and charges.
18    (b) The use and operation of each terminal served by a
19switch shall be governed by a written agreement between the
20network and the person establishing the terminal. The written
21agreement shall specify all the terms and conditions under
22which the network provides service to the terminal, including
23commercially reasonable fees and charges.

 

 

SB1119- 2 -LRB102 04903 BMS 14922 b

1    (c) (Blank).
2(Source: P.A. 92-811, eff. 8-21-02.)