SB3029 98TH GENERAL ASSEMBLY

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98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB3029

Introduced 2/7/2014, by Sen. Terry Link

SYNOPSIS AS INTRODUCED:

205 ILCS 605/2 rep.
205 ILCS 690/10 rep.

Amends the Consumer Deposit Account Act. Repeals a provision requiring all financial institutions that provide checks, drafts, or orders of withdrawal that are drawn against funds held by those financial institutions in a consumer-deposit account opened subsequent to January 1, 1982 to display the month and year in which the account was opened on the face of every order of withdrawal, and to display a unique number on the face of every order of withdrawal for accounts opened after January 1, 1982. Amends the Check Printer and Check Number Act. Repeals a provision requiring that any person who sells or distributes checks, drafts, or similar orders of withdrawal that are drawn against funds held in a consumer-deposit account opened subsequent to January 1, 1993 to display the month and year in which the account was opened on the face of every order of withdrawal, and to display a unique number on the face of every order of withdrawal for accounts opened after January 1, 1993. Effective immediately.

A BILL FOR

AN ACT concerning regulation.

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

(205 ILCS 605/2 rep.)

Section 5. The Consumer Deposit Account Act is amended by repealing Section 2.

(205 ILCS 690/10 rep.)

Section 10. The Check Printer and Check Number Act is amended by repealing Section 10.

Section 99. Effective date. This Act takes effect upon becoming law.