HB 4560

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Full Text of HB4560
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					HB4560 - 104th General Assembly
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		HB4560 Enrolled		LRB104 17330 SPS 30754 b
1		    AN ACT concerning State government.
2		    Be it enacted by the People of the State of Illinois,
3		represented in the General Assembly:
4		    Section 5. The State Treasurer Act is amended by adding
5		Section 11.5 as follows:
6		    (15 ILCS 505/11.5 new)
7		    Sec. 11.5. Recovery for breach of presentment warranties. 
8		The Treasurer may bring a claim against a warrantor of a draft 
9		for breach of a presentment warranty to recover State funds in 
10		accordance with Sections 3-417 and 4-208 of the Uniform 
11		Commercial Code. However, a claim brought by the Treasurer 
12		under those Sections is not subject to the limitations 
13		provided for in subsection (e) of Section 3-417 or subsection 
14		(e) of Section 4-208 of the Uniform Commercial Code. The 
15		changes made by this amendatory Act of the 104th General 
16		Assembly are declaratory of existing law.
17		    Section 99. Effective date. This Act takes effect upon
18		becoming law.