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CA SB708

Bill

Official Source

Status

Passed

9/19/2012

Primary Sponsor

Ellen Corbett

Click for details

Origin

Senate

2011-2012 Session

AI Summary

  • Amends Section 11108 of the Commercial Code to expand application of the Uniform Commercial Code--Funds Transfers to remittance transfers as defined under federal law (15 U.S.C. Section 1693o-1)
  • Maintains exemption for remittance transfers that qualify as electronic fund transfers under the federal Electronic Fund Transfer Act of 1978 (15 U.S.C. Section 1693a)
  • Establishes that federal law provisions control in cases of inconsistency between state and federal funds transfer requirements
  • Applies to funds transfers occurring on or after the bill's enactment on September 19, 2012

Legislative Description

Funds transfers.

Last Action

Chaptered by Secretary of State. Chapter 392, Statutes of 2012.

9/19/2012

Committee Referrals

Banking and Financial Institutions8/22/2012
Appropriations1/11/2012
Judiciary1/9/2012
Banking and Financial Institutions1/4/2012
Rules6/1/2011
Appropriations5/9/2011
Judiciary4/28/2011
Banking and Financial Institutions3/3/2011
Rules2/18/2011

Full Bill Text

No bill text available