SB 157 — Session Law

… making deletions as shown by strike through and insertions as shown by underline as follows: § 2-102. Scope; certain security and other transactions excluded from this article. Unless the context otherwise requires, this Article applies to tran …

… tion which although in the form of an unconditional contract to sell or present sale is intended to operate only as a security transaction nor does this Article impair or repeal any statute regulating sales to consumers, farmers or other specif …

… saction that, even though in the form of an unconditional contract to sell or present sale, operates only to create a security interest; or (b) impair or repeal a statute regulating sales to consumers, farmers, or other specified classes of buy …

… aware Code by making deletions as shown by strike through and insertions as shown by underline as follows: § 4A-201. Security procedure. “Security procedure” means a procedure established by agreement of a customer and a receiving bank for the …

… eletions as shown by strike through and insertions as shown by underline as follows: § 4A-201. Security procedure. “Security procedure” means a procedure established by agreement of a customer and a receiving bank for the purpose of (i) verif …

… of the customer, or (ii) detecting error in the transmission or the content of the payment order or communication. A security procedure may impose an obligation on the receiving bank or the customer and may require the use of algorithms or oth …

… codes, identifying words or words, numbers, symbols, sounds, biometrics, encryption, callback procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the …

… r requiring a payment order to be sent from a known email address, IP address, or telephone number is not by itself a security procedure. Section 26. Amend § 4A-202, Title 6 of the Delaware Code by making deletions as shown by strike through and …