100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB1684

 

Introduced , by Rep. Michael J. Madigan

 

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.


LRB100 03433 JLS 13438 b

 

 

A BILL FOR

 

HB1684LRB100 03433 JLS 13438 b

1    AN ACT concerning business.
 
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 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
9not apply to money, to payment orders governed by Article 4A,
10or to securities governed by Article 8.
11    (b) If there is conflict between this Article and and
12Article 4 or 9, Articles 4 and 9 govern.
13    (c) Regulations of the Board of Governors of the Federal
14Reserve System and operating circulars of the Federal Reserve
15Banks supersede any inconsistent provision of this Article to
16the extent of the inconsistency.
17(Source: P.A. 87-582; 87-1135.)