SB316 Alabama 2013 Session

Summary

Primary Sponsor

Jerry L. Fielding

Republican

Co-Sponsor

Cam Ward

Session

Regular Session 2013

Title

Electronic fund transfers, remittance transfer, Uniform Commercial Code applicable if transfer governed by Electronic Fund Transfer Act of 1978, exception, Sec. 7-4A-108 am'd.

Description

Under existing law, Article 4A of the Uniform Commercial Code does not apply to a fund transfer if any part of the transfer is governed by the Electronic Fund Transfer Act of 1978.

This act would amend the Uniform Commercial Code to specify the relationship between Article 4A of the code and the federal Electronic Fund Transfer Act and would provide that Article 4A applies to remittance transfers under the Electronic Fund Transfer Act.

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Subjects

Uniform Commercial Code