OK HB3013

Amends 12A O.S. 2011, Section 4A-108 to revise the relationship between the Uniform Commercial Code's Article 4A (fund transfers) and the Electronic Fund Transfer Act of 1978 (15 U.S.C. Section 1693 et seq.).

Excludes from Article 4A any funds transfer that is governed by the Electronic Fund Transfer Act, with the exception of remittance transfers as defined in 15 U.S.C. Section 1693o-1.

Applies Article 4A to remittance transfers unless the remittance transfer qualifies as an electronic fund transfer under 15 U.S.C. Section 1693a.

Establishes that when inconsistencies exist between Article 4A and the Electronic Fund Transfer Act provisions, the Electronic Fund Transfer Act governs to the extent of the inconsistency.

Effective date: November 1, 2016.