96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB0011

 

Introduced 1/30/2009, by Sen. John J. Cullerton

 

SYNOPSIS AS INTRODUCED:
 
205 ILCS 616/45

    Amends the Electronic Fund Transfer Act. Makes a technical change in a Section relating to access to terminals.


LRB096 07569 RCE 17664 b

 

 

A BILL FOR

 

SB0011 LRB096 07569 RCE 17664 b

1     AN ACT concerning financial regulation.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Electronic Fund Transfer Act is amended by
5 changing Section 45 as follows:
 
6     (205 ILCS 616/45)
7     Sec. 45. Nondiscriminatory access.
8     (a) Subject to the the provisions of Section 35 of this
9 Act, use of a terminal through access to a switch and use of
10 any switch shall be available on a nondiscriminatory basis to
11 any switch or financial institution that has its principal
12 place of business within this State. The terms and conditions
13 of use shall be governed by a written agreement between the
14 network and the financial institution or other switch obtaining
15 the use. The written agreement shall specify all of the terms
16 and conditions under which the network may be utilized,
17 including commercially reasonable fees and charges.
18     (b) The use and operation of each terminal served by a
19 switch shall be governed by a written agreement between the
20 network and the person establishing the terminal. The written
21 agreement shall specify all the terms and conditions under
22 which the network provides service to the terminal, including
23 commercially reasonable fees and charges.

 

 

SB0011 - 2 - LRB096 07569 RCE 17664 b

1     (c) (Blank).
2 (Source: P.A. 92-811, eff. 8-21-02.)