|
| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB1566 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
| | 815 ILCS 140/1 | from Ch. 17, par. 6001 |
|
Amends the Credit Card Issuance Act. Makes a technical change in a
Section concerning definitions.
|
| |
| | A BILL FOR |
|
|
| | HB1566 | | LRB100 03440 JLS 13445 b |
|
|
| 1 | | AN ACT concerning business.
|
| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The Credit Card Issuance Act is amended by |
| 5 | | changing Section 1 as follows:
|
| 6 | | (815 ILCS 140/1) (from Ch. 17, par. 6001)
|
| 7 | | Sec. 1. As used in this Act: |
| 8 | | (a) "Credit card" has the
the meaning set forth in
Section |
| 9 | | 17-0.5 of the Criminal Code of 2012, but does not
include |
| 10 | | "debit card" as defined in that Section, which can also be
used |
| 11 | | to obtain money, goods, services and anything else of value on
|
| 12 | | credit, nor shall it include any negotiable instrument as |
| 13 | | defined in the
Uniform Commercial Code, as now or hereafter |
| 14 | | amended; |
| 15 | | (b) "Merchant credit
card agreement" means a written |
| 16 | | agreement between a seller of goods,
services or both, and the |
| 17 | | issuer of a credit card to any other party,
pursuant to which |
| 18 | | the seller is obligated to accept credit cards; and |
| 19 | | (c)
"Credit card transaction" means a purchase and sale of |
| 20 | | goods, services or
both, in which a seller, pursuant to a |
| 21 | | merchant credit card agreement, is
obligated to accept a credit |
| 22 | | card and does accept the credit card in
connection with such |
| 23 | | purchase and sale.
|