Bill Text: IL HB5286 | 2015-2016 | 99th General Assembly | Introduced

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Bill Title: Amends the Financial Institutions Electronic Documents and Digital Signature Act. Makes a technical change in a Section concerning definitions.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-04-08 - Rule 19(a) / Re-referred to Rules Committee [HB5286 Detail]

Download: Illinois-2015-HB5286-Introduced.html

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99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 HB5286 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
205 ILCS 705/5
Amends the Financial Institutions Electronic Documents and Digital Signature Act. Makes a technical change in a Section concerning definitions.
LRB099 17406 SMS 41764 b
A BILL FOR
HB5286 LRB099 17406 SMS 41764 b
AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Financial Institutions Electronic Documents
and Digital Signature Act is amended by changing Section 5 as
follows:
(205 ILCS 705/5)
Sec. 5. Definitions. As used in this Act:
"Digital signature" means an encrypted electronic
identifier, created by computer, intended by the the party
using it to have the same force and effect as the use of a
manual signature.
"Financial institution" means a bank, a savings and loan
association, a savings bank, or a credit union or any
subsidiary or affiliate of a bank, savings and loan
association, savings bank, or credit union.
"Substitute check" means a paper reproduction of an
original check, as defined in the Check Clearing for the 21st
Century Act (12 U.S.C. 5001, et seq.), as amended from time to
time, and the rules promulgated thereunder.
(Source: P.A. 94-458, eff. 8-4-05; 95-77, eff. 8-13-07.)