93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB4156

 

Introduced 1/21/2004, by Rosemary Mulligan

 

SYNOPSIS AS INTRODUCED:
 
815 ILCS 315/1   from Ch. 121 1/2, par. 1901
815 ILCS 315/2.1 new

    Amends the Check Cashing Act. Limits the amount of the penalty that a casino-based electronic check cashing service may recover from a person who writes a check that is dishonored to the amount of actual damages plus a fee equal to 20% of the face value of the check or $5, whichever is greater (and prohibits recovery of treble damages).


LRB093 18788 WGH 44522 b

 

 

A BILL FOR

 

HB4156 LRB093 18788 WGH 44522 b

1     AN ACT in relation to check cashing services.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Check Cashing Act is amended by changing
5 Section 1 and adding Section 3 as follows:
 
6     (815 ILCS 315/1)  (from Ch. 121 1/2, par. 1901)
7     Sec. 1. Definitions. As used in this Act: ,
8     "Merchant" means a person, firm, association, partnership
9 or corporation primarily engaged in the business of selling
10 tangible personal property at retail.
11     "Casino-based electronic check acceptance service" means
12 any check-guarantee, check-acceptance, check-co-signing, or
13 check-risk-management service that is performed by a firm that
14 is engaged in the financial service industry or in any branch
15 of the financial service industry, provided that the service is
16 performed as part of a transaction involving a check that takes
17 place on a riverboat licensed under the Riverboat Gambling Act
18 or on the dock of such a riverboat.
19 (Source: P.A. 85-997.)
 
20     (815 ILCS 315/2.1 new)
21     Sec. 2.1. Casino-based electronic check acceptance
22 services. Notwithstanding any provision of this Act to the
23 contrary, if a casino-based electronic check acceptance
24 service has taken part in a casino-based transaction involving
25 a check that is dishonored, the casino-based electronic check
26 acceptance service may recover from the person who wrote the
27 check an amount equal to the amount of actual damages plus a
28 fee equal to (1) 20% of the face value of the check or (2) $5,
29 whichever is greater. Notwithstanding any law to the contrary,
30 a casino-based electronic check acceptance service may not
31 recover treble damages from a person who writes a check for use

 

 

HB4156 - 2 - LRB093 18788 WGH 44522 b

1 in a casino-based transaction that is dishonored.