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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB0011
Introduced 1/30/2009, by Sen. John J. Cullerton SYNOPSIS AS INTRODUCED:
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Amends the Electronic Fund Transfer Act. Makes a technical change in a Section
relating to access to terminals.
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A BILL FOR
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SB0011 |
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LRB096 07569 RCE 17664 b |
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| AN ACT concerning financial regulation.
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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 Electronic Fund Transfer Act is amended by |
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| changing Section 45 as follows:
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| (205 ILCS 616/45)
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| Sec. 45. Nondiscriminatory access.
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| (a) Subject to the
the provisions of Section 35 of this |
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| Act,
use of a terminal through access to a switch and use of
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| any switch shall be available on a nondiscriminatory basis to |
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| any switch or
financial institution that has its principal |
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| place of business within this
State. The terms and conditions |
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| of use shall be governed by a written
agreement between the |
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| network and the financial institution or other switch
obtaining |
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| the use. The written agreement shall specify all of the terms |
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| and
conditions under which the network may be utilized, |
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| including commercially
reasonable fees and charges. |
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| (b) The use and operation of each terminal served by a |
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| switch shall be
governed by a written agreement between the |
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| network and the person establishing
the terminal. The written |
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| agreement shall specify all the terms and conditions
under |
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| which the network provides service to the terminal, including
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| commercially reasonable fees and charges.
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