assembly Bill A10591

Signed by Governor

Relates to the federal electronic fund transfer act

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Sponsor

ROBINSON

Co-Sponsors

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor
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actions

  • 07 / Jun / 2012
    • REFERRED TO JUDICIARY
  • 12 / Jun / 2012
    • REPORTED REFERRED TO RULES
  • 14 / Jun / 2012
    • REPORTED
  • 14 / Jun / 2012
    • RULES REPORT CAL.277
  • 14 / Jun / 2012
    • ORDERED TO THIRD READING RULES CAL.277
  • 18 / Jun / 2012
    • PASSED ASSEMBLY
  • 18 / Jun / 2012
    • DELIVERED TO SENATE
  • 18 / Jun / 2012
    • REFERRED TO RULES
  • 19 / Jun / 2012
    • SUBSTITUTED FOR S7493A
  • 19 / Jun / 2012
    • 3RD READING CAL.1372
  • 19 / Jun / 2012
    • PASSED SENATE
  • 19 / Jun / 2012
    • RETURNED TO ASSEMBLY
  • 06 / Aug / 2012
    • DELIVERED TO GOVERNOR
  • 17 / Aug / 2012
    • SIGNED CHAP.399

Summary

Relates to the federal electronic fund transfer act; clarifies the relationship between such act and article 4-A of the UCC.

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Bill Details

See Senate Version of this Bill:
S7493A
Versions:
A10591
Legislative Cycle:
2011-2012
Law Section:
Uniform Commercial Code
Laws Affected:
Amd ยง4-A-108, UCC
view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10591

                          I N  A S S E M B L Y

                              June 7, 2012
                               ___________

Introduced  by  COMMITTEE  ON RULES -- (at request of M. of A. Robinson,
  Farrell, Weinstein) -- read once and  referred  to  the  Committee  on
  Judiciary

AN  ACT  to amend the uniform commercial code, in relation to clarifying
  the relationship between article 4-A of the code and the federal Elec-
  tronic Fund Transfer Act and to clarify such  article's  applicability
  to remittance transfers under the Electronic Fund Transfer Act

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 4-A-108 of the uniform commercial code, as added by
chapter 208 of the laws of 1990, is amended to read as follows:
Section 4-A-108. [Exclusion of Consumer Transactions Governed by Federal
                   Law] RELATIONSHIP TO ELECTRONIC FUND TRANSFER ACT.
  [This] (1) EXCEPT AS PROVIDED IN SUBSECTION (2) OF THIS SECTION,  THIS
Article does not apply to a 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. S1693 et seq.) as amended from time  to
time.
  (2)  THIS ARTICLE SHALL APPLY TO A FUNDS TRANSFER THAT IS A REMITTANCE
TRANSFER AS DEFINED IN THE ELECTRONIC FUND TRANSFER ACT (15 U.S.C.  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 U.S.C. SEC. 1693A) AS AMENDED FROM TIME TO TIME.
  (3) IN A FUNDS TRANSFER TO WHICH THIS ARTICLE APPLIES, IN THE EVENT OF
AN  INCONSISTENCY BETWEEN AN APPLICABLE PROVISION OF THIS ARTICLE AND AN
APPLICABLE PROVISION OF THE ELECTRONIC FUND TRANSFER ACT, THE  PROVISION
OF  THE ELECTRONIC FUND TRANSFER ACT GOVERNS TO THE EXTENT OF THE INCON-
SISTENCY.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD16136-01-2

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