Uniform Commercial Code; funds transfers. (SB1066)

Introduced By

Sen. John Edwards (D-Roanoke)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Uniform Commercial Code; Funds Transfers. Amends Article 4A of the Uniform Commercial Code to ensure that 4A continues to apply to remittance transfers that are not electronic fund transfers. Under current law Article 4A of the Uniform Commercial Code, which is Title 4A in Virginia, applies to remittance transfers that are not electronic funds transfers under the federal Electronic Fund Transfer Act (EFTA). The Dodd-Frank Wall Street Reform and Consumer Protection Act amended EFTA to provide that EFTA will govern remittance transfers whether or not they are electronic, which means that when its provisions go into effect a fund transfer initiated by a remittance transfer would be outside of the coverage of 4A, even if the transfer is not an electronic fund transfer. Amends § 8.4A-108, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/08/2013Prefiled and ordered printed; offered 01/09/13 13102527D
01/08/2013Referred to Committee on Commerce and Labor
01/21/2013Reported from Commerce and Labor (15-Y 0-N) (see vote tally)
01/23/2013Constitutional reading dispensed (40-Y 0-N) (see vote tally)
01/24/2013Read second time and engrossed
01/25/2013Read third time and passed Senate (38-Y 0-N) (see vote tally)
01/25/2013Reconsideration of passage agreed to by Senate (40-Y 0-N) (see vote tally)
01/25/2013Passed Senate (40-Y 0-N) (see vote tally)
02/02/2013Placed on Calendar
02/02/2013Read first time
02/02/2013Referred to Committee on Commerce and Labor
02/12/2013Reported from Commerce and Labor (22-Y 0-N) (see vote tally)
02/14/2013Read second time
02/15/2013Read third time
02/15/2013Passed House BLOCK VOTE (100-Y 0-N)
02/15/2013VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally)
02/20/2013Enrolled
02/20/2013Bill text as passed Senate and House (SB1066ER)
02/20/2013Signed by Speaker
02/21/2013Signed by President
03/14/2013G Approved by Governor-Chapter 387 (effective 7/1/13)
03/14/2013G Acts of Assembly Chapter text (CHAP0387)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 40 seconds.