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CT SB00816
Bill
Status
6/9/2017
Primary Sponsor
Judiciary Committee
Click for details
AI Summary
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Repeals and replaces Section 42a-4A-108 of the general statutes, effective October 1, 2017.
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Specifies that the Uniform Commercial Code article on funds transfers does not apply to any funds transfer governed by the Electronic Fund Transfer Act (15 USC 1693 et seq.).
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Creates an exception allowing the UCC article to apply to remittance transfers as defined in the Electronic Fund Transfer Act (15 USC 1693o-1), unless the remittance transfer qualifies as an electronic fund transfer under 15 USC 1693a.
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Establishes that when the Electronic Fund Transfer Act and the UCC article conflict, the Electronic Fund Transfer Act provisions take precedence.
Legislative Description
An Act Concerning The Application Of The Uniform Commercial Code To Certain Funds Transfers Under The Electronic Fund Transfer Act.
Last Action
Signed by the Governor
6/9/2017