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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB2057
Introduced 2/14/2005, by Rep. Michael J. Madigan - Barbara Flynn Currie - Susana A Mendoza SYNOPSIS AS INTRODUCED:
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815 ILCS 140/1 |
from Ch. 17, par. 6001 |
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Amends the Credit Card Issuance Act. Makes a technical change in a
Section concerning definitions.
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A BILL FOR
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HB2057 |
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LRB094 02759 RXD 32760 b |
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| AN ACT concerning business.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Credit Card Issuance Act is amended by |
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| changing Section 1 as follows:
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| (815 ILCS 140/1) (from Ch. 17, par. 6001)
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| Sec. 1. As used in this Act: (a) "Credit card" has the
the
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| meaning set forth in
Section 2.03 of the Illinois Credit Card |
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| and Debit Card Act, but does not
include "debit card" as |
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| defined in Section
2.15 of the Illinois Credit Card and Debit |
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| Card Act, which can also be
used to obtain money, goods, |
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| services and anything else of value on
credit, nor shall it |
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| include any negotiable instrument as defined in the
Uniform |
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| Commercial Code, as now or hereafter amended; (b) "merchant |
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| credit
card agreement" means a written agreement between a |
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| seller of goods,
services or both, and the issuer of a credit |
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| card to any other party,
pursuant to which the seller is |
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| obligated to accept credit cards; and (c)
"credit card |
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| transaction" means a purchase and sale of goods, services or
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| both, in which a seller, pursuant to a merchant credit card |
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| agreement, is
obligated to accept a credit card and does accept |
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| the credit card in
connection with such purchase and sale. |
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| (Source: P.A. 86-427; 86-952.)
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