Chapter 077

2013 -- S 0506

Enacted 06/07/13

A N A C T

RELATING TO UNIFORM COMMERCIAL CODE -- FUNDS TRANSFERS

Introduced By: Senator Roger Picard

Date Introduced: February 28, 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.

=======

LC01527

=======