CHAPTER 385

FORMERLY

HOUSE BILL NO. 364

AN ACT TO AMEND TITLE 6 OF THE DELAWARE CODE RELATING TO FUNDS TRANSFERS.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Amend § 4A-108, Title 6 of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:

§ 4A-108. Exclusion of consumer transactions governed by federal law Relationship to Electronic Fund Transfer Act.

(a) Except as provided in subsection (b) of this section, this This Article does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act (Title XX, Public Law 95-630, 92 Stat. 3728, 15 U.S.C. § 1693 et seq.) as amended from time to time.

(b) This Article applies to a funds transfer that is a remittance transfer as defined in the Electronic Fund Transfer Act, 15 U.S.C. § 1693o-1, unless the remittance transfer is an electronic fund transfer as defined in the Electronic Fund Transfer Act, 15 U.S.C. § 1693a.

(c) In a funds transfer to which this Article applies, in the event of an inconsistency between the applicable provisions 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.

Approved August 10, 2016