SB0439 93rd General Assembly

093_SB0439

 
                                     LRB093 10097 JLS 10348 b

 1        AN ACT concerning the printing of checks.

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

 4        Section  5.  The  Check  Printer  and Check Number Act is
 5    amended by changing Section 10 as follows:

 6        (205 ILCS 690/10)
 7        Sec.  10.  Identification  and  numbering  of   consumer;
 8    deposit  account.  A  Any  person  who  sells  or distributes
 9    checks, drafts, or similar orders of withdrawal, which may be
10    drawn against funds  held  by  financial  institutions  in  a
11    consumer-deposit  account  opened  subsequent  to  January 1,
12    1993, shall cause the month and year in which the account was
13    opened to be displayed clearly on the  face  of  each  check,
14    draft,  or  order.   For all consumer-deposit accounts opened
15    after January 1, 1993, all  new  checks,  drafts,  or  orders
16    designed  to be drawn on financial institution accounts shall
17    clearly display on the face of each check, draft, or order  a
18    number,  commencing  with number 101, with each check, draft,
19    or  similar  order  thereafter  provided   to   be   numbered
20    consecutively; except that when a consumer-deposit account at
21    any  financial  institution  in Illinois has been voluntarily
22    closed by the customer, the number displayed on  the  checks,
23    drafts,  or  orders for a new consumer-deposit account opened
24    within 30 days thereafter, titled in the same manner as,  and
25    with  same  owners  as the closed account may commence with a
26    number that is not greater than the next  consecutive  number
27    higher  than  the  highest  consecutive number displayed on a
28    check, draft, or order processed through the closed  account.
29    This  Section shall not apply to temporary checks, drafts, or
30    orders of withdrawal provided by financial institutions  upon
31    the opening of a consumer deposit account.
 
                            -2-      LRB093 10097 JLS 10348 b
 1        No liability or penalty shall be imposed on any financial
 2    institution  or person for an unintentional failure to comply
 3    with this Act.
 4    (Source: P.A. 87-1143.)