Full Text of SB1647 94th General Assembly
SB1647sam001 94TH GENERAL ASSEMBLY
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Sen. Kirk W. Dillard
Filed: 3/15/2005
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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 | 3 |
| replacing lines 15 through 17 with the following: | 4 |
| " (20) "Good faith" means honesty in fact in the conduct or | 5 |
| transaction concerned. "; and
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| by replacing lines 22 through 33 on page 27, all of page 28, | 7 |
| and lines 1 through 18 on page 29 with the following: | 8 |
| "(810 ILCS 5/1-301 new)
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| Sec. 1-301. Territorial applicability; parties' power to | 10 |
| choose applicable law. | 11 |
| (a) Except as otherwise provided in this Section, when a | 12 |
| transaction bears a reasonable relation to this State and also | 13 |
| to another state or nation the parties may agree that the law | 14 |
| either of this State or of such other state or nation shall | 15 |
| govern their rights and duties. | 16 |
| (b) In the absence of an agreement effective under | 17 |
| subsection (a), and except as provided in subsection (c), the | 18 |
| Uniform Commercial Code applies to transactions bearing an | 19 |
| appropriate relation to this state. | 20 |
| (c) If one of the following provisions of the Uniform | 21 |
| Commercial Code specifies the applicable law, that provision | 22 |
| governs and a contrary agreement is effective only to the | 23 |
| extent permitted by the law so specified: | 24 |
| (1) Section 2-402; |
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LRB094 04037 WGH 43732 a |
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| (2) Sections 2A-105 and 2A-106; | 2 |
| (3) Section 4-102; | 3 |
| (4) Section 4A-507; | 4 |
| (5) Section 5-116; | 5 |
| (6) Section 8-110; | 6 |
| (7) Sections 9-301 through 9-307. "; and | 7 |
| by replacing lines 12 through 33 on page 33 and lines 1 through | 8 |
| 33 on page 34 with the following: | 9 |
| "changing Sections 2-202, 2-208, 2A-207, 2A-501, 2A-518, | 10 |
| 2A-519, 2A-527, 2A-528, 3-103, 4A-105, 4A-106, 4A-204, and | 11 |
| 5-103 as follows:"; and
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| by deleting lines 3 through 35 on page 36, all of pages 37 | 13 |
| through 40, and lines 1 through 24 on page 41; and | 14 |
| on page 47, by replacing lines 15 through 17 with the | 15 |
| following:
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| "(4) "Good faith" means honesty in fact and the | 17 |
| observance of
reasonable commercial standards of fair | 18 |
| dealing."; and
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| by deleting lines 30 through 35 on page 49, all of pages 50 and | 20 |
| 51, and lines 1 through 7 on page 52; and | 21 |
| 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 | 23 |
| observance of reasonable
commercial standards of fair | 24 |
| dealing."; and
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| by deleting lines 12 through 35 on page 56 and all of pages 57 | 26 |
| through 76.
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