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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB1399 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
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Amends the Financial Institutions Electronic Documents and Digital Signature Act. Makes a technical
change in a Section concerning definitions.
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| | A BILL FOR |
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| | HB1399 | | LRB101 03403 JRG 48411 b |
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| 1 | | AN ACT concerning regulation.
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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 Financial Institutions Electronic Documents |
| 5 | | and Digital Signature Act is amended by changing Section 5 as |
| 6 | | follows:
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| 7 | | (205 ILCS 705/5)
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| 8 | | Sec. 5. Definitions. As used in this Act:
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| 9 | | "Digital signature" means an encrypted
electronic |
| 10 | | identifier, created by computer, intended by the
the party |
| 11 | | using it to
have the same force and effect as the use of a |
| 12 | | manual signature. |
| 13 | | "Financial institution" means a bank,
a savings
and loan |
| 14 | | association, a savings bank, or
a credit
union or any |
| 15 | | subsidiary or affiliate of a bank, savings and loan |
| 16 | | association, savings bank, or credit union.
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| 17 | | "Substitute check" means a paper reproduction of an |
| 18 | | original check, as defined in the Check Clearing for the 21st |
| 19 | | Century Act (12 U.S.C. 5001, et seq.), as amended from time to |
| 20 | | time, and the rules promulgated thereunder.
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| 21 | | (Source: P.A. 94-458, eff. 8-4-05; 95-77, eff. 8-13-07.)
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