|
|
|
|
94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB1254
Introduced 2/18/2005, by Sen. Martin A. Sandoval - Emil Jones, Jr. SYNOPSIS AS INTRODUCED:
|
|
810 ILCS 5/3-102 |
from Ch. 26, par. 3-102 |
|
Amends the Uniform Commercial Code. Makes a technical change in a Section
concerning the subject matter of the Negotiable Instruments Article.
|
| |
|
|
|
|
A BILL FOR
|
|
|
|
|
SB1254 |
|
LRB094 04909 RXD 34938 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 Uniform Commercial Code is amended by |
| 5 |
| changing Section 3-102 as follows:
|
| 6 |
| (810 ILCS 5/3-102) (from Ch. 26, par. 3-102)
|
| 7 |
| Sec. 3-102. Subject matter.
|
| 8 |
| (a) This Article applies to negotiable instruments. It does |
| 9 |
| not apply
to money, to payment orders governed by Article 4A, |
| 10 |
| or to securities
governed by Article 8.
|
| 11 |
| (b) If there is conflict between this Article and
and
|
| 12 |
| Article 4 or 9, Articles 4
and 9 govern. |
| 13 |
| (c) Regulations of the Board of Governors of the Federal |
| 14 |
| Reserve System
and operating circulars of the Federal Reserve |
| 15 |
| Banks supersede any
inconsistent provision of this Article to |
| 16 |
| the extent of the inconsistency.
|
| 17 |
| (Source: P.A. 87-582; 87-1135.)
|