| 1 | 1 | | 83R3830 ATP-F |
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| 2 | 2 | | By: Deshotel H.B. No. 702 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the applicability of state law governing funds |
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| 8 | 8 | | transfers to certain remittance transfers. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 4A.108, Business & Commerce Code, is |
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| 11 | 11 | | amended to read as follows: |
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| 12 | 12 | | Sec. 4A.108. RELATIONSHIP TO ELECTRONIC FUND TRANSFER |
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| 13 | 13 | | ACT [EXCLUSION OF CONSUMER TRANSACTIONS GOVERNED BY FEDERAL LAW]. |
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| 14 | 14 | | (a) Except as provided in Subsection (b), this [This] chapter does |
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| 15 | 15 | | not apply to a funds transfer any part of which is governed by the |
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| 16 | 16 | | Electronic Fund Transfer Act, 15 U.S.C. Sec. 1693 et seq., as |
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| 17 | 17 | | amended from time to time. |
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| 18 | 18 | | (b) This chapter applies to a funds transfer that is a |
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| 19 | 19 | | remittance transfer as defined in the Electronic Fund Transfer Act |
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| 20 | 20 | | (15 U.S.C. Sec. 1693o-1), as amended from time to time, unless the |
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| 21 | 21 | | remittance transfer is also an electronic fund transfer as defined |
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| 22 | 22 | | in the Electronic Fund Transfer Act (15 U.S.C. Sec. 1693a), as |
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| 23 | 23 | | amended from time to time. |
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| 24 | 24 | | (c) In a funds transfer to which this chapter applies, in |
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| 25 | 25 | | the event of an inconsistency between the applicable provision of |
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| 26 | 26 | | this chapter and an applicable provision of the Electronic Fund |
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| 27 | 27 | | Transfer Act, the applicable provision of the Electronic Fund |
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| 28 | 28 | | Transfer Act governs to the extent of the inconsistency. |
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| 29 | 29 | | SECTION 2. This Act takes effect September 1, 2013. |
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