093_HB0181

 
                                     LRB093 02389 LRD 02397 b

 1        AN ACT in relation to check cashing services.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Check Cashing Act is amended by  changing
 5    Section 1 and adding Section 3 as follows:

 6        (815 ILCS 315/1) (from Ch. 121 1/2, par. 1901)
 7        Sec. 1.  Definitions. As used in this Act:,
 8        "Merchant" means a person, firm, association, partnership
 9    or  corporation  primarily engaged in the business of selling
10    tangible personal property at retail.
11        "Casino-based electronic check acceptance service"  means
12    any  check-guarantee,  check-acceptance, check-co-signing, or
13    check-risk-management service that is  performed  by  a  firm
14    that  is  engaged in the financial service industry or in any
15    branch of the financial service industry, provided  that  the
16    service  is  performed  as  part of a transaction involving a
17    check that takes place on  a  riverboat  licensed  under  the
18    Riverboat Gambling Act or on the dock of such a riverboat.
19    (Source: P.A. 85-997.)

20        (815 ILCS 315/3 new)
21        Sec.   3.  Casino-based   electronic   check   acceptance
22    services.    Notwithstanding any provision of this Act to the
23    contrary,  if  a  casino-based  electronic  check  acceptance
24    service  has  taken  part  in  a   casino-based   transaction
25    involving  a  check  that  is  dishonored,  the  casino-based
26    electronic  check  acceptance  service  may  recover from the
27    person who wrote the check an amount equal to the  amount  of
28    actual  damages plus a fee equal to (1) 20% of the face value
29    of the check or (2) $5, whichever is greater. Notwithstanding
30    any law to the  contrary,  a  casino-based  electronic  check
 
                            -2-      LRB093 02389 LRD 02397 b
 1    acceptance  service  may  not  recover  treble damages from a
 2    person  who  writes  a  check  for  use  in  a   casino-based
 3    transaction that is dishonored.

 4        Section  99.  Effective date.  This Act takes effect upon
 5    becoming law.