SB0011 96TH GENERAL ASSEMBLY

LRB096 07569 RCE 17664 b

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.

A BILL FOR

AN ACT concerning financial regulation.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Electronic Fund Transfer Act is amended by changing Section 45 as follows:

(205 ILCS 616/45)

Sec. 45. Nondiscriminatory access.

(a) Subject to the the provisions of Section 35 of this Act, use of a terminal through access to a switch and use of any switch shall be available on a nondiscriminatory basis to any switch or financial institution that has its principal place of business within this State. The terms and conditions of use shall be governed by a written agreement between the network and the financial institution or other switch obtaining the use. The written agreement shall specify all of the terms and conditions under which the network may be utilized, including commercially reasonable fees and charges.

(b) The use and operation of each terminal served by a switch shall be governed by a written agreement between the network and the person establishing the terminal. The written agreement shall specify all the terms and conditions under which the network provides service to the terminal, including commercially reasonable fees and charges.

(c) (Blank).

(Source: P.A. 92-811, eff. 8-21-02.)