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IL SB3029

Bill

Status

Passed

8/15/2014

Primary Sponsor

Terry Link

Click for details

Origin

Senate

98th General Assembly

AI Summary

  • Amends the Consumer Deposit Account Act to remove requirements that financial institutions display the month and year an account was opened on checks, drafts, and orders of withdrawal.

  • Simplifies check numbering requirements by removing the mandate that checks commence with number 101 and eliminating the exception allowing reuse of check numbers when an account is closed and reopened within 30 days.

  • Maintains requirement that all checks, drafts, and orders for accounts opened after January 1, 1982 must clearly display a number and be numbered consecutively.

  • Makes identical amendments to the Check Printer and Check Number Act for accounts opened after January 1, 1993.

  • Protects financial institutions and printers from liability or penalties for unintentional failures to comply with these requirements.

Legislative Description

CHECK IDENTIFICATION NUMBERS

Last Action

Public Act . . . . . . . . . 98-0950

8/15/2014

Committee Referrals

Financial Institutions4/23/2014
Rules3/20/2014
Financial Institutions2/19/2014
Assignments2/7/2014

Full Bill Text

No bill text available