First Regular Session 118th General Assembly (2013)


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    HOUSE ENROLLED ACT No. 1224



     AN ACT to amend the Indiana Code concerning commercial law.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 26-1-4.1-108; (13)HE1224.1.1. -->
    SECTION 1. IC 26-1-4.1-108 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 108. (a) Except as provided by subsection (b), IC 26-1-4.1 does not apply to a 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. 1693 et seq.) as amended from time to time.
     (b) IC 26-1-4.1 applies to a funds transfer that is a remittance transfer as defined in the Electronic Fund Transfer Act (15 U.S.C. 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 U.S.C. 1693a) as amended from time to time.
    (c) In a funds transfer to which IC 26-1-4.1 applies, in the event of an inconsistency between an applicable provision of IC 26-1-4.1 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.

SOURCE: ; (13)HE1224.1.2. -->     SECTION 2. An emergency is declared for this act.


HEA 1224

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