Illinois General Assembly - Full Text of SB2186
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Full Text of SB2186  98th General Assembly




SB2186 EnrolledLRB098 08539 JLS 38651 b

1    AN ACT concerning business transactions.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Uniform Commercial Code is amended by
5changing Section 4A-108 as follows:
6    (810 ILCS 5/4A-108)  (from Ch. 26, par. 4A-108)
7    Sec. 4A-108. Exclusion of consumer transactions governed
8by federal law.
9    (a) Except as provided in subsection (b), this This Article
10does not apply to a funds transfer any part of which is
11governed by the Electronic Fund Transfer Act of 1978 (Title XX,
12Public Law 95-630, 92 Stat. 3728, 15 U.S.C. Section 1693 et
13seq.) as amended from time to time.
14    (b) This Article applies to a funds transfer that is a
15remittance transfer as defined in the Electronic Fund Transfer
16Act (15 U.S.C. Sec. 1693o-1), as amended from time to time,
17unless the remittance transfer is an electronic fund transfer
18as defined in the Electronic Fund Transfer Act (15 U.S.C. Sec.
191693a), as amended from time to time.
20    (c) In a funds transfer to which this Article applies, in
21the event of an inconsistency between an applicable provision
22of this Article and an applicable provision of the Electronic
23Fund Transfer Act, the provision of the Electronic Fund



SB2186 Enrolled- 2 -LRB098 08539 JLS 38651 b

1Transfer Act governs to the extent of the inconsistency.
2(Source: P.A. 86-1291.)