Uniform Commercial Code; funds transfers. (SB1066)
Introduced By
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. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/08/2013 | Prefiled and ordered printed; offered 01/09/13 13102527D |
01/08/2013 | Referred to Committee on Commerce and Labor |
01/21/2013 | Reported from Commerce and Labor (15-Y 0-N) (see vote tally) |
01/23/2013 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
01/24/2013 | Read second time and engrossed |
01/25/2013 | Read third time and passed Senate (38-Y 0-N) (see vote tally) |
01/25/2013 | Reconsideration of passage agreed to by Senate (40-Y 0-N) (see vote tally) |
01/25/2013 | Passed Senate (40-Y 0-N) (see vote tally) |
02/02/2013 | Placed on Calendar |
02/02/2013 | Read first time |
02/02/2013 | Referred to Committee on Commerce and Labor |
02/12/2013 | Reported from Commerce and Labor (22-Y 0-N) (see vote tally) |
02/14/2013 | Read second time |
02/15/2013 | Read third time |
02/15/2013 | Passed House BLOCK VOTE (100-Y 0-N) |
02/15/2013 | VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally) |
02/20/2013 | Enrolled |
02/20/2013 | Bill text as passed Senate and House (SB1066ER) |
02/20/2013 | Signed by Speaker |
02/21/2013 | Signed by President |
03/14/2013 | G Approved by Governor-Chapter 387 (effective 7/1/13) |
03/14/2013 | G Acts of Assembly Chapter text (CHAP0387) |