Public Act 0497 104TH GENERAL ASSEMBLY

HB4560 Enrolled LRB104 17330 SPS 30754 b

Public Act 104-0497

AN ACT concerning State government.

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

Section 5. The State Treasurer Act is amended by adding Section 11.5 as follows:

(15 ILCS 505/11.5 new)

Sec. 11.5. Recovery for breach of presentment warranties. The Treasurer may bring a claim against a warrantor of a draft for breach of a presentment warranty to recover State funds in accordance with Sections 3-417 and 4-208 of the Uniform Commercial Code. However, a claim brought by the Treasurer under those Sections is not subject to the limitations provided for in subsection (e) of Section 3-417 or subsection (e) of Section 4-208 of the Uniform Commercial Code. The changes made by this amendatory Act of the 104th General Assembly are declaratory of existing law.

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