CT HB06781

Repeals and replaces Section 42a-4A-108 of Connecticut General Statutes regarding Uniform Commercial Code application to funds transfers, effective October 1, 2015.

Excludes from Uniform Commercial Code Article 4A any funds transfer governed by the Electronic Fund Transfer Act, 15 USC 1693 et seq.

Applies Uniform Commercial Code Article 4A to remittance transfers as defined in the Electronic Fund Transfer Act (15 USC 1693o-1), unless the remittance transfer is also an electronic fund transfer.

Establishes that Electronic Fund Transfer Act provisions govern over conflicting Uniform Commercial Code Article 4A provisions in applicable funds transfers.