reglab/housing_qa huggingface dataset:
810 ILCS 5/9-107.1
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-107.1.     Control of Beneficial Interest in Illinois Land Trust.(a) Requirements for Control. A secured party has control of the beneficial  interest in an Illinois land trust if:(1) the secured party shall have transmitted to the     trustee for the trust a record authenticated by the debtor that contains a collateral assignment by the debtor of, or the grant of a security interest in, a beneficial interest in the trust; and(2)  in an authenticated record, the trustee for the     trust has accepted the collateral assignment or security agreement.(b) Debtor's right to direct disposition and proceeds. A secured party that  has  satisfied subsection (a) has control, even if the debtor retains, subject to  the terms and conditions of the collateral assignment or security agreement,  the power of direction  of  the trustee and the right to receive the rents, income and profits thereof.    (Source: P.A. 92-234, eff. 1-1-02.)
810 ILCS 5/9-108
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-108)Sec. 9-108.     Sufficiency of description.(a) Sufficiency of description.  Except as otherwise provided in  subsections (c), (d), and (e), a description of personal or real property is  sufficient,  whether or not it is specific, if it reasonably identifies what is described.(b) Examples of reasonable identification.  Except as otherwise provided  in subsection (d), a description of collateral reasonably identifies the  collateral if it  identifies the collateral by:(1) specific listing;(2) category;(3) except as otherwise provided in subsection (e), a     type of collateral defined in the Uniform Commercial Code;(4) quantity;(5) computational or allocational formula or     procedure; or(6) except as otherwise provided in subsection (c),     any other method, if the identity of the collateral is objectively determinable.(c) Supergeneric description not sufficient.  A description of collateral as  "all the debtor's assets" or "all the debtor's personal property" or using words of  similar import does not reasonably identify the collateral.(d) Investment property.  Except as otherwise provided in subsection (e),  a description of a security entitlement, securities account, or commodity account is  sufficient if it describes:(1) the collateral by those terms or as investment     property; or(2) the underlying financial asset or commodity     contract.(e) When description by type insufficient.  A description only by type of  collateral defined in the Uniform Commercial Code is an insufficient  description  of:(1) a commercial tort claim; or(2) in a consumer transaction, consumer goods, a     security entitlement, a securities account, or a commodity account.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/Art. 9 Pt. 1 Sub. 2 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 SUBPART 2.      APPLICABILITY OF ARTICLE
810 ILCS 5/9-110
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-110)Sec. 9-110.     Security interests arising under Article 2 or 2A.     A security  interest arising under Section 2-401, 2-505, 2-711(3), or 2A-508(5) is subject  to  this Article.  However, until the debtor obtains possession of the goods:(1) the security interest is enforceable, even if     Section 9-203(b)(3) has not been satisfied;(2) filing is not required to perfect the security     interest;(3) the rights of the secured party after default by     the debtor are governed by Article 2 or 2A; and(4) the security interest has priority over a     conflicting security interest created by the debtor.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-112
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-112)Sec. 9-112.     (Blank).     (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-113
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-113)Sec. 9-113.     (Blank).     (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-114
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-114)Sec. 9-114.     (Blank).     (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-115
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-115)Sec. 9-115.     (Blank).     (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-116
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-116.     (Blank).     (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-150
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-150.     (Blank).     (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/Art. 9 Pt. 2 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 PART 2.      EFFECTIVENESS OF SECURITY AGREEMENT; ATTACHMENT OF SECURITY INTEREST; RIGHTS OF PARTIES TO SECURITY AGREEMENT
810 ILCS 5/Art. 9 Pt. 2 Sub. 1 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 SUBPART 1.      EFFECTIVENESS AND ATTACHMENT
810 ILCS 5/9-201
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-201)Sec. 9-201.     General effectiveness of security agreement.(a) General effectiveness.  Except as otherwise provided in the Uniform  Commercial Code, a security agreement is effective according to its terms  between  the parties, against purchasers of the collateral, and against creditors.(b) Applicable consumer laws and other law.  A transaction subject to  this Article is subject to any applicable rule of law, statute, or regulation  which establishes a  different  rule for  consumers, including:(1) the Retail Installment Sales Act;(2) the Motor Vehicle Retail Installment Sales Act;(3) Article II of Chapter 3 of the Illinois Vehicle     Code;(4) Article IIIB of the Boat Registration and Safety     Act;(5) the Pawnbroker Regulation Act;(6) the Motor Vehicle Leasing Act;(7) the Consumer Installment Loan Act; and(8) the Consumer Deposit Security Act of 1987.(c) Other applicable law controls.  In case of conflict between this Article  and a rule of law, statute, or regulation described in subsection  (b), the rule  of law,  statute, or regulation controls.  Failure to comply with a rule of law,  statute, or  regulation  described in subsection (b) has only the effect such rule of law, statute, or  regulation  specifies.(d) Further deference to other applicable law.  This Article does not:(1) validate any rate, charge, agreement, or practice     that violates a rule of law, statute, or regulation described in subsection (b); or(2) extend the application of the rule of law,     statute, or regulation to a transaction not otherwise subject to it.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-202
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-202)Sec. 9-202.     Title to collateral immaterial.     Except as otherwise provided  with  respect to consignments or sales of accounts, chattel paper, payment  intangibles, or  promissory notes, the provisions of this Article with regard to rights and  obligations  apply whether title to collateral is in the secured party or the debtor.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-204
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-204)Sec. 9-204.     After-acquired property; future advances.(a) After-acquired collateral.  Except as otherwise provided in subsection  (b), a security agreement may create or provide for a security interest in  after-acquired collateral.(b) When after-acquired property clause not effective.  A security  interest does not attach under a term constituting an after-acquired property  clause  to:(1) consumer goods, other than an accession when     given as additional security, unless the debtor acquires rights in them within 10 days after the secured party gives value; or(2) a commercial tort claim.(c) Future advances and other value.  A security agreement may provide  that collateral secures, or that accounts, chattel paper, payment intangibles,  or  promissory notes are sold in connection with, future advances or other value,  whether or not the advances or value are given pursuant to commitment.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-205
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-205)Sec. 9-205.     Use or disposition of collateral permissible.(a) When security interest not invalid or fraudulent.  A security interest  is not invalid or fraudulent against creditors solely because:(1) the debtor has the right or ability to:(A) use, commingle, or dispose of all or part of         the collateral, including returned or repossessed goods;(B) collect, compromise, enforce, or otherwise         deal with collateral;(C) accept the return of collateral or make         repossessions; or(D) use, commingle, or dispose of proceeds; or(2) the secured party fails to require the debtor to     account for proceeds or replace collateral.(b) Requirements of possession not relaxed.  This Section does not relax  the requirements of possession if attachment, perfection, or enforcement of a  security interest depends upon possession of the collateral by the secured  party.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-205.1
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-205.1)Sec. 9-205.1.         Listing by debtor of purchasers or receivers of  collateral.  A secured party may require that the debtor include as  part of the security agreement a list of persons to whom the debtor desires  to sell or otherwise dispose of the collateral.  The debtor shall not sell or otherwise dispose of the collateral to a person  not included in that list unless the debtor has notified the secured party  of his desire to sell or otherwise dispose of the collateral to such person  at least 7 days prior to the sale or other disposition.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-206
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-206)Sec. 9-206.         Security interest arising in purchase or delivery of financial  asset.(a) Security interest when person buys through securities  intermediary.  A security interest in favor of a securities intermediary  attaches to a  person's security entitlement if:(1) the person buys a financial asset through the     securities intermediary in a transaction in which the person is obligated to pay the purchase price to the securities intermediary at the time of the purchase; and(2) the securities intermediary credits the financial     asset to the buyer's securities account before the buyer pays the securities intermediary.(b) Security interest secures obligation to pay for financial asset.  The  security interest described in subsection (a) secures the person's obligation  to pay  for the financial asset.(c) Security interest in payment against delivery transaction.  A  security interest in favor of a person that delivers a certificated security or other  financial asset represented by a writing attaches to the security or other financial  asset if:(1) the security or other financial asset:(A) in the ordinary course of business is         transferred by delivery with any necessary indorsement or assignment; and(B) is delivered under an agreement between         persons in the business of dealing with such securities or financial assets; and(2) the agreement calls for delivery against payment.(d) Security interest secures obligation to pay for delivery.  The security  interest described in subsection (c) secures the obligation to make payment for  the  delivery.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/Art. 9 Pt. 2 Sub. 2 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 SUBPART 2.      RIGHTS AND DUTIES
810 ILCS 5/9-207
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-207)Sec. 9-207. Rights and duties of secured party having possession or  control  of collateral.(a) Duty of care when secured party in possession.  Except as otherwise  provided in subsection (d), a secured party shall use reasonable care in the  custody  and preservation of collateral in the secured party's possession.  In the case  of  chattel paper or an instrument, reasonable care includes taking necessary steps  to  preserve rights against prior parties unless otherwise agreed.(b) Expenses, risks, duties, and rights when secured party in  possession.  Except as otherwise provided in subsection (d), if a secured party  has  possession of collateral:(1) reasonable expenses, including the cost of     insurance and payment of taxes or other charges, incurred in the custody, preservation, use, or operation of the collateral are chargeable to the debtor and are secured by the collateral;(2) the risk of accidental loss or damage is on the     debtor to the extent of a deficiency in any effective insurance coverage;(3) the secured party shall keep the collateral     identifiable, but fungible collateral may be commingled; and(4) the secured party may use or operate the     collateral:(A) for the purpose of preserving the collateral         or its value;(B) as permitted by an order of a court having         competent jurisdiction; or(C) except in the case of consumer goods, in the         manner and to the extent agreed by the debtor.(c) Duties and rights when secured party in possession or control.  Except as otherwise provided in subsection (d), a secured party having possession  of collateral or control of collateral under Section 7-106, 9-104, 9-105, 9-106, or 9-107:(1) may hold as additional security any proceeds,     except money or funds, received from the collateral;(2) shall apply money or funds received from the     collateral to reduce the secured obligation, unless remitted to the debtor; and(3) may create a security interest in the collateral.(d) Buyer of certain rights to payment.  If the secured party is a buyer of  accounts, chattel paper, payment intangibles, or promissory notes or a  consignor:(1) subsection (a) does not apply unless the secured     party is entitled under an agreement:(A) to charge back uncollected collateral; or(B) otherwise to full or limited recourse against         the debtor or a secondary obligor based on the nonpayment or other default of an account debtor or other obligor on the collateral; and(2) subsections (b) and (c) do not apply.  (Source: P.A. 95-895, eff. 1-1-09.)
810 ILCS 5/9-209
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

Sec. 9-209.         Duties of secured party if account debtor has been notified of  assignment.(a) Applicability of Section.  Except as otherwise provided in subsection  (c), this Section applies if:(1) there is no outstanding secured obligation; and(2) the secured party is not committed to make     advances, incur obligations, or otherwise give value.(b) Duties of secured party after receiving demand from debtor.  Within 10 days after receiving an authenticated demand by the debtor, a secured  party shall send to an account debtor that has received notification of an  assignment  to the secured party as assignee under Section 9-406(a) an authenticated record  that  releases the account debtor from any further obligation to the secured party.(c) Inapplicability to sales.  This Section does not apply to an assignment  constituting the sale of an account, chattel paper, or payment intangible.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/Art. 9 Pt. 3 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 PART 3.      PERFECTION AND PRIORITY
810 ILCS 5/Art. 9 Pt. 3 Sub. 1 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 SUBPART 1.      LAW GOVERNING PERFECTION AND PRIORITY
810 ILCS 5/9-301
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-301)Sec. 9-301. Law governing perfection and priority of security interests. Except as otherwise provided in Sections 9-303 through 9-306.1,  the following  rules  determine the law governing perfection, the effect of perfection or  nonperfection,  and the priority of a security interest in collateral:(1) Except as otherwise provided in this Section,     while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral.(2) While collateral is located in a jurisdiction,     the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory security interest in that collateral.(3) Except as otherwise provided in paragraph (4),     while tangible negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:(A) perfection of a security interest in the         goods by filing a fixture filing;(B) perfection of a security interest in timber         to be cut; and(C) the effect of perfection or nonperfection and         the priority of a nonpossessory security interest in the collateral.(4) The local law of the jurisdiction in which the     wellhead or minehead is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in as-extracted collateral. (Source: P.A. 95-895, eff. 1-1-09.)
810 ILCS 5/9-302
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-302)Sec. 9-302.     Law governing perfection and priority of agricultural liens.     While farm products are located in a jurisdiction, the local law of that  jurisdiction  governs perfection, the effect of perfection or nonperfection, and the priority  of an  agricultural lien on the farm products.    (Source: P.A. 90-665, eff. 7-30-98; 91-893, eff. 7-1-01.)
810 ILCS 5/9-303
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-303)Sec. 9-303.         Law governing perfection and priority of security interests in  goods covered by a certificate of title.(a) Applicability of Section.  This Section applies to goods covered by a  certificate of title, even if there is no other relationship between the  jurisdiction  under whose certificate of title the goods are covered and the goods or the  debtor.(b) When goods covered by certificate of title.  Goods become covered by  a certificate of title when a valid application for the certificate of title  and the  applicable fee are delivered to the appropriate authority.  Goods cease to be  covered  by a certificate of title at the earlier of the time the certificate of title  ceases to be  effective under the law of the issuing jurisdiction or the time the goods  become  covered subsequently by a certificate of title issued by another jurisdiction.(c) Applicable law.  The local law of the jurisdiction under whose  certificate of title the goods are covered governs perfection, the effect of  perfection  or nonperfection, and the priority of a security interest in goods covered by a  certificate of title from the time the goods become covered by the certificate  of title  until the goods cease to be covered by the certificate of title.    (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-304
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-304)Sec. 9-304.         Law governing perfection and priority of security interests  in deposit accounts.(a) Law of bank's jurisdiction governs.  The local law of a bank's  jurisdiction governs perfection, the effect of perfection or nonperfection, and  the  priority of a security interest in a deposit account maintained with that bank.(b) Bank's jurisdiction.  The following rules determine a bank's  jurisdiction for purposes of this Part:(1) If an agreement between the bank and the debtor     governing the deposit account expressly provides that a particular jurisdiction is the bank's jurisdiction for purposes of this Part, this Article, or the Uniform Commercial Code, that jurisdiction is the bank's jurisdiction.(2) If paragraph (1) does not apply and an agreement     between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the bank's jurisdiction.(3) If neither paragraph (1) nor paragraph (2)     applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction, that jurisdiction is the bank's jurisdiction.(4) If none of the preceding paragraphs applies, the     bank's jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customer's account is located.(5) If none of the preceding paragraphs applies, the     bank's jurisdiction is the jurisdiction in which the chief executive office of the bank is located.   (Source: P.A. 91-893, eff. 7-1-01.)
810 ILCS 5/9-306
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 9 - Secured Transactions

 (from Ch. 26, par. 9-306)Sec. 9-306.         Law governing perfection and priority of security interests  in letter-of-credit rights.(a) Governing law:  issuer's or nominated person's jurisdiction.  Subject to subsection (c), the local law of the issuer's jurisdiction or a  nominated  person's jurisdiction governs perfection, the effect of perfection or  nonperfection,  and the priority of a security interest in a letter-of-credit right if the  issuer's  jurisdiction or nominated person's jurisdiction is a State.(b) Issuer's or nominated person's jurisdiction.  For purposes of  this Part, an issuer's jurisdiction or nominated person's jurisdiction is the  jurisdiction whose law governs the liability of the issuer or nominated person  with  respect to the letter-of-credit right as provided in Section 5-116.(c) When Section not applicable.  This Section does not apply to a  security interest that is perfected only under Section 9-308(d).    (Source: P.A. 91-893, eff. 7-1-01.)