Illinois HB4560 allows the State Treasurer to recover funds from warrantors of drafts for breach of presentment warranties without certain.
Illinois HB4560 amends the State Treasurer Act to enable the State Treasurer to bring claims against warrantors of drafts for breach of presentment warranties to recover state funds. This process follows the Uniform Commercial Code but exempts the Treasurer from specific limitations in Sections 3-417 and 4-208. The changes are considered declaratory of existing law and take effect immediately upon enactment.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.