October 31, 2013, Introduced by Reps. VerHeulen, Cotter and Callton and referred to the Committee on Financial Services.
A bill to amend 1962 PA 174, entitled
"Uniform commercial code,"
by amending section 4A108 (MCL 440.4608), as added by 1992 PA 100.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
4A108. (1) This Except as provided in subsection (2),
this article 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.
(2) This article applies to a funds transfer that is a
remittance transfer as defined in 15 USC 1693o-1, unless the
remittance transfer is an electronic fund transfer as defined in 15
USC 1693a.
(3) In a funds transfer to which this article applies, in the
event of an inconsistency between an applicable provision of this
article 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.
(4) As used in this section, "electronic fund transfer act"
means the electronic fund transfer act, 15 USC 1693 to 1693r.