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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB1019 Introduced 01/31/11, by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
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815 ILCS 140/1 | from Ch. 17, par. 6001 |
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Amends the Credit Card Issuance Act. Makes a technical change in a
Section concerning definitions.
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| | A BILL FOR |
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| | HB1019 | | LRB097 03839 AEK 43877 b |
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| 1 | | AN ACT concerning business.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Credit Card Issuance Act is amended by |
| 5 | | changing Section 1 as follows:
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| 6 | | (815 ILCS 140/1) (from Ch. 17, par. 6001)
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| 7 | | Sec. 1. As used in this Act: (a) "Credit card" has the
the |
| 8 | | meaning set forth in
Section 2.03 of the Illinois Credit Card |
| 9 | | and Debit Card Act, but does not
include "debit card" as |
| 10 | | defined in Section
2.15 of the Illinois Credit Card and Debit |
| 11 | | Card Act, which can also be
used to obtain money, goods, |
| 12 | | services and anything else of value on
credit, nor shall it |
| 13 | | include any negotiable instrument as defined in the
Uniform |
| 14 | | Commercial Code, as now or hereafter amended; (b) "merchant |
| 15 | | credit
card agreement" means a written agreement between a |
| 16 | | seller of goods,
services or both, and the issuer of a credit |
| 17 | | card to any other party,
pursuant to which the seller is |
| 18 | | obligated to accept credit cards; and (c)
"credit card |
| 19 | | transaction" means a purchase and sale of goods, services or
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| 20 | | both, in which a seller, pursuant to a merchant credit card |
| 21 | | agreement, is
obligated to accept a credit card and does accept |
| 22 | | the credit card in
connection with such purchase and sale. |
| 23 | | (Source: P.A. 86-427; 86-952.)
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