Sen. Terry Link

Filed: 2/19/2014

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 3029

2    AMENDMENT NO. ______. Amend Senate Bill 3029 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Consumer Deposit Account Act is amended by
5changing Section 2 as follows:
 
6    (205 ILCS 605/2)  (from Ch. 17, par. 502)
7    Sec. 2. Identification and numbering of consumer - deposit
8account. All financial institutions that provide checks,
9drafts, or similar orders of withdrawal, which are drawn
10against funds held by those financial institutions in a
11consumer-deposit account opened subsequent to January 1, 1982,
12shall cause the month and year in which the account was opened
13to be displayed clearly on the face of each check, draft, or
14order. For all consumer-deposit accounts opened after January
151, 1982, all new checks, drafts, or orders drawn on financial
16institution accounts shall clearly display on the face of each

 

 

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1check, draft, or order a number. Each , commencing with number
2101, with each check, draft, or similar order shall thereafter
3provided to be numbered consecutively; except that when a
4consumer-deposit account at any financial institution in
5Illinois has been voluntarily closed by the customer, the
6number displayed on the checks, drafts, or orders for a new
7consumer-deposit account opened within 30 days thereafter,
8titled in the same manner as, and with same owners as the
9closed account may commence with a number that is not greater
10than the next consecutive number higher than the highest
11consecutive number displayed on a check, draft, or order
12processed through the closed account. This Section shall not
13apply to temporary checks, drafts, or orders of withdrawal
14provided by financial institutions upon the opening of a
15consumer deposit account.
16    No liability or penalty shall be imposed on any financial
17institution or printer for an unintentional failure to comply
18with this Act.
19(Source: P.A. 87-1143.)
 
20    Section 10. The Check Printer and Check Number Act is
21amended by changing Section 10 as follows:
 
22    (205 ILCS 690/10)
23    Sec. 10. Identification and numbering of consumer - deposit
24account. Any person who sells or distributes checks, drafts, or

 

 

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1similar orders of withdrawal, which may be drawn against funds
2held by financial institutions in a consumer-deposit account
3opened subsequent to January 1, 1993, shall cause the month and
4year in which the account was opened to be displayed clearly on
5the face of each check, draft, or order. For all
6consumer-deposit accounts opened after January 1, 1993, all new
7checks, drafts, or orders designed to be drawn on financial
8institution accounts shall clearly display on the face of each
9check, draft, or order a number. Each , commencing with number
10101, with each check, draft, or similar order shall thereafter
11provided to be numbered consecutively; except that when a
12consumer-deposit account at any financial institution in
13Illinois has been voluntarily closed by the customer, the
14number displayed on the checks, drafts, or orders for a new
15consumer-deposit account opened within 30 days thereafter,
16titled in the same manner as, and with same owners as the
17closed account may commence with a number that is not greater
18than the next consecutive number higher than the highest
19consecutive number displayed on a check, draft, or order
20processed through the closed account. This Section shall not
21apply to temporary checks, drafts, or orders of withdrawal
22provided by financial institutions upon the opening of a
23consumer deposit account.
24    No liability or penalty shall be imposed on any financial
25institution or person for an unintentional failure to comply
26with this Act.

 

 

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1(Source: P.A. 87-1143.)
 
2    Section 99. Effective date. This Act takes effect upon
3becoming law.".