Illinois General Assembly - Full Text of Public Act 098-0950
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Public Act 098-0950


 

Public Act 0950 98TH GENERAL ASSEMBLY

  
  
  

 


 
Public Act 098-0950
 
SB3029 EnrolledLRB098 17405 ZMM 52505 b

    AN ACT concerning regulation.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Consumer Deposit Account Act is amended by
changing Section 2 as follows:
 
    (205 ILCS 605/2)  (from Ch. 17, par. 502)
    Sec. 2. Identification and numbering of consumer - deposit
account. All financial institutions that provide checks,
drafts, or similar orders of withdrawal, which are drawn
against funds held by those financial institutions in a
consumer-deposit account opened subsequent to January 1, 1982,
shall cause the month and year in which the account was opened
to be displayed clearly on the face of each check, draft, or
order. For all consumer-deposit accounts opened after January
1, 1982, all new checks, drafts, or orders drawn on financial
institution accounts shall clearly display on the face of each
check, draft, or order a number. Each , commencing with number
101, with each check, draft, or similar order shall thereafter
provided to be numbered consecutively; except that when a
consumer-deposit account at any financial institution in
Illinois has been voluntarily closed by the customer, the
number displayed on the checks, drafts, or orders for a new
consumer-deposit account opened within 30 days thereafter,
titled in the same manner as, and with same owners as the
closed account may commence with a number that is not greater
than the next consecutive number higher than the highest
consecutive number displayed on a check, draft, or order
processed through the closed account. This Section shall not
apply to temporary checks, drafts, or orders of withdrawal
provided by financial institutions upon the opening of a
consumer deposit account.
    No liability or penalty shall be imposed on any financial
institution or printer for an unintentional failure to comply
with this Act.
(Source: P.A. 87-1143.)
 
    Section 10. The Check Printer and Check Number Act is
amended by changing Section 10 as follows:
 
    (205 ILCS 690/10)
    Sec. 10. Identification and numbering of consumer - deposit
account. Any person who sells or distributes checks, drafts, or
similar orders of withdrawal, which may be drawn against funds
held by financial institutions in a consumer-deposit account
opened subsequent to January 1, 1993, shall cause the month and
year in which the account was opened to be displayed clearly on
the face of each check, draft, or order. For all
consumer-deposit accounts opened after January 1, 1993, all new
checks, drafts, or orders designed to be drawn on financial
institution accounts shall clearly display on the face of each
check, draft, or order a number. Each , commencing with number
101, with each check, draft, or similar order shall thereafter
provided to be numbered consecutively; except that when a
consumer-deposit account at any financial institution in
Illinois has been voluntarily closed by the customer, the
number displayed on the checks, drafts, or orders for a new
consumer-deposit account opened within 30 days thereafter,
titled in the same manner as, and with same owners as the
closed account may commence with a number that is not greater
than the next consecutive number higher than the highest
consecutive number displayed on a check, draft, or order
processed through the closed account. This Section shall not
apply to temporary checks, drafts, or orders of withdrawal
provided by financial institutions upon the opening of a
consumer deposit account.
    No liability or penalty shall be imposed on any financial
institution or person for an unintentional failure to comply
with this Act.
(Source: P.A. 87-1143.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/15/2014