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| | SB2186 Enrolled | | LRB098 08539 JLS 38651 b |
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| 1 | | AN ACT concerning business transactions.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Uniform Commercial Code is amended by |
| 5 | | changing Section 4A-108 as follows:
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| 6 | | (810 ILCS 5/4A-108) (from Ch. 26, par. 4A-108)
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| 7 | | Sec. 4A-108. Exclusion of consumer transactions governed |
| 8 | | by federal
law. |
| 9 | | (a) Except as provided in subsection (b), this This Article |
| 10 | | does not apply to a funds transfer any part
of which is |
| 11 | | governed by the Electronic Fund Transfer Act of 1978 (Title XX,
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| 12 | | Public Law 95-630, 92 Stat. 3728, 15 U.S.C. Section 1693 et |
| 13 | | seq.) as
amended from time to time.
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| 14 | | (b) This Article applies to a funds transfer that is a |
| 15 | | remittance transfer as defined in the Electronic Fund Transfer |
| 16 | | Act (15 U.S.C. Sec. 1693o-1), as amended from time to time, |
| 17 | | unless the remittance transfer is an electronic fund transfer |
| 18 | | as defined in the Electronic Fund Transfer Act (15 U.S.C. Sec. |
| 19 | | 1693a), as amended from time to time. |
| 20 | | (c) In a funds transfer to which this Article applies, in |
| 21 | | the event of an inconsistency between an applicable provision |
| 22 | | of this Article and an applicable provision of the Electronic |
| 23 | | Fund Transfer Act, the provision of the Electronic Fund |