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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB4156
Introduced 1/21/2004, by Rosemary Mulligan SYNOPSIS AS INTRODUCED:
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815 ILCS 315/1 |
from Ch. 121 1/2, par. 1901 |
815 ILCS 315/2.1 new |
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Amends the Check Cashing Act. Limits the amount of the penalty that a
casino-based electronic check cashing service may recover from a person who
writes a check that is dishonored to the amount of actual damages plus a fee equal to 20% of the
face value of the check or $5, whichever is greater (and prohibits recovery of treble damages). |
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A BILL FOR
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HB4156 |
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LRB093 18788 WGH 44522 b |
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| AN ACT in relation to check cashing services.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Check Cashing Act is amended by changing |
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| Section 1 and
adding Section 3 as follows:
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| (815 ILCS 315/1) (from Ch. 121 1/2, par. 1901)
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| Sec. 1. Definitions. As used in this Act: ,
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| "Merchant" means a person, firm,
association, partnership |
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| or corporation primarily engaged in the business
of selling |
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| tangible personal property at retail.
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| "Casino-based electronic check acceptance service" means |
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| any
check-guarantee, check-acceptance, check-co-signing, or |
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| check-risk-management
service that is performed by a firm that |
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| is engaged in the financial service
industry or in any
branch |
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| of the
financial service industry, provided that the service is |
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| performed as part of a
transaction involving a check that takes |
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| place on a riverboat licensed
under the Riverboat Gambling Act |
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| or on the dock of such a riverboat.
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| (Source: P.A. 85-997.)
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| (815 ILCS 315/2.1 new)
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| Sec. 2.1. Casino-based electronic check acceptance |
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| services.
Notwithstanding any provision of this Act to the |
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| contrary, if a casino-based
electronic check acceptance |
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| service has taken part in a casino-based
transaction involving |
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| a check that is dishonored, the casino-based electronic
check |
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| acceptance service may recover from the person who wrote the |
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| check an
amount equal to the amount of actual damages plus a |
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| fee equal to (1) 20% of the
face value of the check or (2) $5, |
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| whichever is greater. Notwithstanding any
law to the contrary, |
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| a casino-based electronic check acceptance service may not
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| recover treble damages from a person who writes a check for use |
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