|
| | HB4560 Engrossed | | LRB104 17330 SPS 30754 b |
|
|
| 1 | | AN ACT concerning State government.
|
| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The State Treasurer Act is amended by adding |
| 5 | | Section 11.5 as follows:
|
| 6 | | (15 ILCS 505/11.5 new) |
| 7 | | Sec. 11.5. Recovery for breach of presentment warranties. |
| 8 | | The Treasurer may bring a claim against a warrantor of a draft |
| 9 | | for breach of a presentment warranty to recover State funds in |
| 10 | | accordance with Sections 3-417 and 4-208 of the Uniform |
| 11 | | Commercial Code. However, a claim brought by the Treasurer |
| 12 | | under those Sections is not subject to the limitations |
| 13 | | provided for in subsection (e) of Section 3-417 or subsection |
| 14 | | (e) of Section 4-208 of the Uniform Commercial Code. The |
| 15 | | changes made by this amendatory Act of the 104th General |
| 16 | | Assembly are declaratory of existing law.
|
| 17 | | Section 99. Effective date. This Act takes effect upon |
| 18 | | becoming law. |