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.


LRB094 04909 RXD 34938 b

 

 

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.)