Bill Text: IL HB1566 | 2017-2018 | 100th General Assembly | Introduced
Bill Title: Amends the Credit Card Issuance Act. Makes a technical change in a Section concerning definitions.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2019-01-08 - Session Sine Die [HB1566 Detail]
Download: Illinois-2017-HB1566-Introduced.html
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1 | AN ACT concerning business.
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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 Credit Card Issuance Act is amended by | |||||||||||||||||||
5 | changing Section 1 as follows:
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6 | (815 ILCS 140/1) (from Ch. 17, par. 6001)
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7 | Sec. 1. As used in this Act: | |||||||||||||||||||
8 | (a) "Credit card" has the
the meaning set forth in
Section | |||||||||||||||||||
9 | 17-0.5 of the Criminal Code of 2012, but does not
include | |||||||||||||||||||
10 | "debit card" as defined in that Section, which can also be
used | |||||||||||||||||||
11 | to obtain money, goods, services and anything else of value on
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12 | credit, nor shall it include any negotiable instrument as | |||||||||||||||||||
13 | defined in the
Uniform Commercial Code, as now or hereafter | |||||||||||||||||||
14 | amended; | |||||||||||||||||||
15 | (b) "Merchant credit
card agreement" means a written | |||||||||||||||||||
16 | agreement between a seller of goods,
services or both, and the | |||||||||||||||||||
17 | issuer of a credit card to any other party,
pursuant to which | |||||||||||||||||||
18 | the seller is obligated to accept credit cards; and | |||||||||||||||||||
19 | (c)
"Credit card transaction" means a purchase and sale of | |||||||||||||||||||
20 | goods, services or
both, in which a seller, pursuant to a | |||||||||||||||||||
21 | merchant credit card agreement, is
obligated to accept a credit | |||||||||||||||||||
22 | card and does accept the credit card in
connection with such | |||||||||||||||||||
23 | purchase and sale.
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1 | (Source: P.A. 96-1551, eff. 7-1-11; 97-1150, eff. 1-25-13.)
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