Chapter 071
2013 -- H 5462
Enacted 06/07/13
A N A C T
RELATING TO
UNIFORM COMMERCIAL CODE -- FUNDS TRANSFERS
Introduced
By: Representatives
Date Introduced: February 14, 2013
It is enacted by the
General Assembly as follows:
SECTION 1. Section 6A-4.1-108 of the General Laws in Chapter
6A-4.1 entitled "Funds
Transfers" is hereby
amended to read as follows:
6A-4.1-108.
Exclusion of consumer transactions governed by federal law.
-- (a)
Except as provided in subsection (b), this This
chapter does not apply to funds transfer any part of
which is governed by the Electronic Fund Transfer Act of
1978 (Title XX, public law 95-630, 92
Stat. 3728, 15 U.S.C. section 1693
et seq.) as
amended from time to time.
(b) This chapter
applies to a funds transfer that is a remittance transfer as defined in the
Electronic Fund Transfer Act (15 USC Sec. 1693o-1), as
amended from time to time, unless the
remittance transfer is an electronic fund transfer as defined in
the Electronic Fund Transfer Act
(15 USC Sec. 1693a), as amended from time to time.
(c) In a funds
transfer to which this chapter applies, in the event of an inconsistency
between an applicable provision of this chapter and an
applicable provision of the Electronic
Fund Transfer Act, the provision of the Electronic
Fund Transfer Act governs to the extent of the
inconsistency.
SECTION 2. This act shall take effect upon passage.
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LC01355
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