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| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
SB0824 Introduced 2/1/2017, by Sen. Napoleon Harris, III SYNOPSIS AS INTRODUCED:
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Amends the Electronic Fund Transfer Act. Makes a technical change in a Section
relating to access to terminals.
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| | A BILL FOR |
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| | SB0824 | | LRB100 09696 SMS 19865 b |
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| 1 | | AN ACT concerning regulation.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Electronic Fund Transfer Act is amended by |
| 5 | | changing Section 45 as follows:
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| 6 | | (205 ILCS 616/45)
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| 7 | | Sec. 45. Nondiscriminatory access.
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| 8 | | (a) Subject to the
the provisions of Section 35 of this |
| 9 | | Act,
use of a terminal through access to a switch and use of
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| 10 | | any switch shall be available on a nondiscriminatory basis to |
| 11 | | any switch or
financial institution that has its principal |
| 12 | | place of business within this
State. The terms and conditions |
| 13 | | of use shall be governed by a written
agreement between the |
| 14 | | network and the financial institution or other switch
obtaining |
| 15 | | the use. The written agreement shall specify all of the terms |
| 16 | | and
conditions under which the network may be utilized, |
| 17 | | including commercially
reasonable fees and charges. |
| 18 | | (b) The use and operation of each terminal served by a |
| 19 | | switch shall be
governed by a written agreement between the |
| 20 | | network and the person establishing
the terminal. The written |
| 21 | | agreement shall specify all the terms and conditions
under |
| 22 | | which the network provides service to the terminal, including
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| 23 | | commercially reasonable fees and charges.
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