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AL SB316
Bill
Status
3/12/2013
Primary Sponsor
Jerry Fielding
Click for details
AI Summary
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Amends Section 7-4A-108 of the Alabama Code to clarify the relationship between Article 4A of the Uniform Commercial Code and the federal Electronic Fund Transfer Act of 1978.
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Article 4A of the Uniform Commercial Code applies to remittance transfers as defined under the Electronic Fund Transfer Act (15 U.S.C. Sec. 1693o-1), unless the remittance transfer qualifies as an electronic fund transfer under that same federal Act.
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In cases where Article 4A applies, the provisions of the federal Electronic Fund Transfer Act take precedence in the event of any inconsistency with Article 4A provisions.
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Becomes effective on the first day of the third month following passage and approval by the Governor.
Legislative Description
Electronic fund transfers, remittance transfer, Uniform Commercial Code applicable if transfer governed by Electronic Fund Transfer Act of 1978, exception, Sec. 7-4A-108 am'd.
Uniform Commercial Code
Last Action
Pending third reading on day 18 Favorable from Judiciary with 1 amendment
5/7/2013