reglab/housing_qa huggingface dataset:
810 ILCS 5/9-626
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-626.         Action in which deficiency or surplus is in  issue; applicable rules if amount of deficiency or surplus is in issue.  In  an action in which the amount of a deficiency  or surplus is in issue, the following rules apply:(1) A secured party need not prove compliance with     the provisions of this Part relating to collection, enforcement, disposition, or acceptance unless the debtor or a secondary obligor places the secured party's compliance in issue.(2) If the secured party's compliance is placed in     issue, the secured party has the burden of establishing that the collection, enforcement, disposition, or acceptance was conducted in accordance with this Part.(3) Except as otherwise provided in Section 9-628, if     a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in accordance with the provisions of this Part relating to collection, enforcement, disposition, or acceptance, the liability of a debtor or a secondary obligor for a deficiency is limited to an amount by which the sum of the secured obligation, expenses, and attorney's fees exceeds the greater of:(A) the proceeds of the collection, enforcement,         disposition, or acceptance; or(B) the amount of proceeds that would have been         realized had the noncomplying secured party proceeded in accordance with the provisions of this Part relating to collection, enforcement, disposition, or acceptance.(4) For purposes of paragraph (3)(B), the amount of     proceeds that would have been realized is equal to the sum of the secured obligation, expenses, and attorney's fees unless the secured party proves that the amount is less than that sum.(5) If a deficiency or surplus is calculated under     Section 9-615(f), the debtor or obligor has the burden of establishing that the amount of proceeds of the disposition is significantly below the range of prices that a complying disposition to a person other than the secured party, a person related to the secured party, or a secondary obligor would have brought.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-627
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-627.         Determination of whether conduct was commercially  reasonable.(a) Greater amount obtainable under other circumstances; no  preclusion of commercial reasonableness.  The fact that a greater amount could  have been obtained by a collection, enforcement, disposition, or acceptance at  a  different time or in a different method from that selected by the secured party  is not  of itself sufficient to preclude the secured party from establishing that the  collection, enforcement, disposition, or acceptance was made in a commercially  reasonable manner.(b) Dispositions that are commercially reasonable.  A disposition  of collateral is made in a commercially reasonable manner if the disposition is  made:(1) in the usual manner on any recognized market;(2) at the price current in any recognized market at     the time of the disposition; or(3) otherwise in conformity with reasonable     commercial practices among dealers in the type of property that was the subject of the disposition.(c) Approval by court or on behalf of creditors.  A collection,  enforcement, disposition, or acceptance is commercially reasonable if it has been  approved:(1) in a judicial proceeding;(2) by a bona fide creditors' committee;(3) by a representative of creditors; or(4) by an assignee for the benefit of creditors.(d) Approval under subsection (c) not necessary; absence of  approval has no effect.  Approval under subsection (c) need not be obtained,  and  lack of approval does not mean that the collection, enforcement, disposition,  or  acceptance is not commercially reasonable.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-628
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-628.         Nonliability and limitation on liability of secured party;  liability of secondary obligor.(a) Limitation of liability to debtor or obligor.  Unless a secured  party knows that a person is a debtor or obligor, knows the identity of the  person,  and knows how to communicate with the person:(1) the secured party is not liable to the person, or     to a secured party or lienholder that has filed a financing statement against the person, for failure to comply with this Article; and(2) the secured party's failure to comply with this     Article does not affect the liability of the person for a deficiency.(b) Limitation of liability to debtor, obligor, another secured  party, or lienholder.  A secured party is not liable because of its status as secured  party:(1) to a person that is a debtor or obligor, unless     the secured party knows:(A) that the person is a debtor or obligor;(B) the identity of the person; and(C) how to communicate with the person; or(2) to a secured party or lienholder that has filed a     financing statement against a person, unless the secured party knows:(A) that the person is a debtor; and(B) the identity of the person.(c) Limitation of liability if reasonable belief that transaction  not a consumer-goods transaction or consumer transaction.  A secured party is  not liable to any person, and a person's liability for a deficiency is not  affected,  because of any act or omission arising out of the secured party's reasonable  belief  that a transaction is not a consumer-goods transaction or a consumer  transaction or  that goods are not consumer goods, if the secured party's belief is based on  its  reasonable reliance on:(1) a debtor's representation concerning the purpose     for which collateral was to be used, acquired, or held; or(2) an obligor's representation concerning the     purpose for which a secured obligation was incurred.(d) Limitation of liability for statutory damages.  A secured party  is not liable to any person under Section 9-625(c)(2) for its failure to comply  with  Section 9-616.(e) Limitation of multiple liability for statutory damages.  A  secured party is not liable under Section 9-625(c)(2) more than once with  respect to  any one secured obligation.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/Art. 9 Pt. 7 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 PART 7.      TRANSITION
810 ILCS 5/9-701
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-701.     Effective date.     (See Section 99 of the Public Act adding this  Section to this Act.)    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-702
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-702.     Savings clause.(a) Pre-effective-date transactions or liens.  Except as otherwise  provided in this Part, this Act applies to a transaction or lien within its  scope, even  if the transaction or lien was entered into or created before the effective  date of this  amendatory Act of the 91st General Assembly.(b) Continuing validity.  Except as otherwise provided in  subsection (c) and Sections 9-703 through 9-709:(1) transactions and liens that were not governed by     Article 9 as it existed before the effective date of this amendatory Act of the 91st General Assembly, were validly entered into or created before the effective date of this amendatory Act of the 91st General Assembly, and would be subject to this Act if they had been entered into or created after the effective date of this amendatory Act of the 91st General Assembly, and the rights, duties, and interests flowing from those transactions and liens remain valid after the effective date of this amendatory Act of the 91st General Assembly; and(2) the transactions and liens may be terminated,     completed, consummated, and enforced as required or permitted by this Act or by the law that otherwise would apply if this Act had not taken effect.(c) Pre-effective-date proceedings.  This amendatory Act of the  91st General Assembly does not affect an action, case, or proceeding commenced  before the effective date of this amendatory Act of the 91st General  Assembly.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-703
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-703.     Security interest perfected before effective date.(a) Continuing priority over lien creditor:  perfection  requirements satisfied.  A security interest that is enforceable immediately  before  the effective date of this amendatory Act of the 91st General Assembly and  would  have priority over the rights of a person that becomes a lien creditor at that  time is a  perfected security interest under this Act if, on the effective date of this  amendatory  Act of the 91st General Assembly, the applicable requirements for enforceability  and perfection under this Act are satisfied without further action.(b) Continuing priority over lien creditor:  perfection  requirements not satisfied.  Except as otherwise provided in Section 9-705, if,  immediately before the effective date of this amendatory Act of the 91st General  Assembly, a security interest is enforceable and would have priority over the rights  of a person that becomes a lien creditor at that time, but the applicable requirements  for enforceability or perfection under this Act are not satisfied on the effective date  of this amendatory Act of the 91st General Assembly, the security interest:(1) is a perfected security interest for one year     after the effective date of this amendatory Act of the 91st General Assembly;(2) remains enforceable thereafter only if the     security interest becomes enforceable under Section 9-203 before the year expires; and(3) remains perfected thereafter only if the     applicable requirements for perfection under this Act are satisfied before the year expires.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-704
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-704.     Security interest unperfected before effective date.     A  security interest that is enforceable immediately before the effective date of  this  amendatory Act of the 91st General Assembly but which would be subordinate to  the rights of a person that becomes a lien creditor at that time:(1) remains an enforceable security interest for one     year after the effective date of this amendatory Act of the 91st General Assembly;(2) remains enforceable thereafter if the security     interest becomes enforceable under Section 9-203 on the effective date of this amendatory Act of the 91st General Assembly or within one year thereafter; and(3) becomes perfected:(A) without further action, on the effective date         of this amendatory Act of the 91st General Assembly if the applicable requirements for perfection under this Act are satisfied before or at that time; or(B) when the applicable requirements for         perfection are satisfied if the requirements are satisfied after that time.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-706
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-706.         When initial financing statement suffices to continue  effectiveness of financing statement.(a) Initial financing statement in lieu of continuation statement.  The filing of an initial financing statement in the office specified in Section  9-501  continues the effectiveness of a financing statement filed before the effective  date  of this amendatory Act of the 91st General Assembly if:(1) the filing of an initial financing statement in     that office would be effective to perfect a security interest under this Act;(2) the pre-effective-date financing statement was     filed in an office in another State or another office in this State; and(3) the initial financing statement satisfies     subsection (c).(b) Period of continued effectiveness.  The filing of an initial  financing statement under subsection (a) continues the effectiveness of the  pre-effective-date financing statement:(1) if the initial financing statement is filed     before the effective date of this amendatory Act of the 91st General Assembly, for the period provided in Section 9-403 of the Uniform Commercial Code as it existed before the effective date of this amendatory Act of the 91st General Assembly with respect to a financing statement; and(2) if the initial financing statement is filed after     the effective date of this amendatory Act of the 91st General Assembly, for the period provided in Section 9-515 with respect to an initial financing statement.(c) Requirements for initial financing statement under  subsection (a).  To be effective for purposes of subsection (a), an initial financing  statement must:(1) satisfy the requirements of Part 5 for an initial     financing statement;(2) identify the pre-effective-date financing     statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and(3) indicate that the pre-effective-date financing     statement remains effective.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-707
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-707.     Amendment of pre-effective-date financing statement.(a) "Pre-effective-date financing statement".  In this Section,  "pre-effective-date financing statement" means a financing statement filed  before  the effective date of this amendatory Act of the 91st General Assembly.(b) Applicable law.  After the effective date of this amendatory Act of the  91st General Assembly, a person may add or  delete collateral covered by, continue or terminate the effectiveness of, or  otherwise amend the information provided in, a pre-effective-date financing  statement only in accordance with the law of the jurisdiction governing  perfection as provided in Part 3.  However, the effectiveness of a  pre-effective-date financing statement also may be terminated in accordance  with  the law of the jurisdiction in which the financing statement is filed.(c) Method of amending: general rule.  Except as otherwise provided in  subsection (d), if the law of this State governs perfection of a security  interest, the information in a pre-effective-date financing statement may be  amended after the effective date of this amendatory Act of the 91st General  Assembly only if:(1) the pre-effective-date financing statement and an     amendment are filed in the office specified in Section 9-501;(2) an amendment is filed in the office specified in     Section 9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies Section  9-706(c); or(3) an initial financing statement that provides the     information as amended and satisfies Section 9-706(c) is filed in the office specified in Section 9-501.(d) Method of amending: continuation.  If the law of this State governs  perfection of a security interest, the effectiveness of a pre-effective-date  financing statement may be continued only under Section 9-705(d) and (f) or  Section 9-706.(e) Method of amending: additional termination rule.  Whether or not the  law of this State governs perfection of a security interest, the effectiveness  of a pre-effective-date financing statement filed in this State may be  terminated after the effective date of this amendatory Act of the 91st General  Assembly by filing a termination statement in  the office in which the pre-effective-date financing statement is filed,  unless an initial financing statement that satisfies Section 9-706(c) has been  filed in the office specified by the law of the jurisdiction governing  perfection as provided in Part 3 as the office in which to file a financing  statement.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-708
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-708.         Persons entitled to file initial financing  statement or  continuation statement.  A person may file an initial financing statement or a  continuation statement under this Part if:(1) the secured party of record authorizes the     filing; and(2) the filing is necessary under this Part:(A) to continue the effectiveness of a financing         statement filed before the effective date of this amendatory Act of the 91st General Assembly; or(B) to perfect or continue the perfection of a         security interest.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-709
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-709.     Priority.(a) Law governing priority.  This Act determines the priority of  conflicting claims to collateral.  However, if the relative priorities of the  claims  were established before the effective date of this amendatory Act of the 91st  General Assembly, Article 9 as it existed before the effective date of this  amendatory Act of the 91st General Assembly determines priority.(b) Priority if security interest becomes enforceable under  Section 9-203.  For purposes of Section 9-322(a), the priority of a security  interest  that becomes enforceable under Section 9-203 of this Act dates from the  effective  date of this amendatory Act of the 91st General Assembly if the security  interest is  perfected under this Act by the filing of a financing statement before the  effective  date of this amendatory Act of the 91st General Assembly which would not have  been effective to perfect the security interest under Article 9 as it existed  before the  effective date of this amendatory Act of the 91st General Assembly.  This  subsection does not apply to conflicting security interests each of which is  perfected by the filing of such a financing statement.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/Art. 9 Pt. 8 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 PART 8.  TRANSITION PROVISIONS FOR 2010 AMENDMENTS  (Source: P.A. 97-1034, eff. 7-1-13.)
810 ILCS 5/9-801
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-801. Effective date.  (See Section 99 of the Public Act adding this Section to this Act.)  (Source: P.A. 97-1034, eff. 7-1-13.)
810 ILCS 5/9-802
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-802. Savings clause.(a)   Pre-effective-date transactions or liens.   Except as otherwise provided in this Part, this  Act  applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before the effective date of this amendatory Act of the 97th General Assembly.(b)   Pre-effective-date proceedings.   This  amendatory Act  of the 97th General Assembly does not affect an action, case, or proceeding commenced before the effective date of this amendatory Act of the 97th General Assembly.   (Source: P.A. 97-1034, eff. 7-1-13.)
810 ILCS 5/9-803
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-803. Security interest perfected before effective date.(a)   Continuing perfection:  perfection requirements satisfied.   A security interest that is a perfected security interest immediately before the effective date of this amendatory Act of the 97th General Assembly  is a perfected security interest under  Article 9 as amended by this  amendatory Act of the 97th General Assembly   if, on the effective date of this amendatory Act of the 97th General Assembly, the applicable requirements for attachment and perfection under  Article 9 as amended by this  amendatory Act of the 97th General Assembly   are satisfied without further action.(b)   Continuing perfection:  perfection requirements not satisfied.   Except as otherwise provided in Section 9-805, if, immediately before the effective date of this amendatory Act of the 97th General Assembly, a security interest is a perfected security interest, but the applicable requirements for perfection under  Article 9 as amended by this  amendatory Act of the 97th General Assembly   are not satisfied when this  amendatory Act of the 97th General Assembly  takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under  Article 9 as amended by this  amendatory Act of the 97th General Assembly   are satisfied within one year after the effective date of this amendatory Act of the 97th General Assembly.   (Source: P.A. 97-1034, eff. 7-1-13.)
810 ILCS 5/9-804
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-804. Security interest unperfected before the effective date of this amendatory Act of the 97th General Assembly.  A security interest that is an unperfected security interest immediately before the effective date of this amendatory Act of the 97th General Assembly becomes a perfected security interest:(1) without further action, when this  amendatory Act     of the 97th General Assembly  takes effect if the applicable requirements for perfection under  Article 9 as amended by this  amendatory Act of the 97th General Assembly   are satisfied before or at that time; or(2) when the applicable requirements for perfection     are satisfied if the requirements are satisfied after that time. (Source: P.A. 97-1034, eff. 7-1-13.)