Illinois General Assembly - Illinois Compiled Statutes

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810 ILCS 5/2A-102

    (810 ILCS 5/2A-102) (from Ch. 26, par. 2A-102)
    (Text of Section before amendment by P.A. 103-1036)
    Sec. 2A-102. Scope.

This Article applies to any transaction, regardless
of form, that creates a lease.

(Source: P.A. 87-493.)

    (Text of Section after amendment by P.A. 103-1036)
    Sec. 2A-102. Scope.

(1) This Article applies to any transaction, regardless of form, that creates a lease and, in the case of a hybrid lease, it applies to the extent provided in subsection (2).

    (2) In a hybrid lease:
        (a) if the lease-of-goods aspects do not predominate:
            (i) only the provisions of this Article which

relate primarily to the lease-of-goods aspects of the transaction apply, and the provisions that relate primarily to the transaction as a whole do not apply;

(ii) Section 2A-209 applies if the lease is a

finance lease; and

(iii) Section 2A-407 applies to the promises of

the lessee in a finance lease to the extent the promises are consideration for the right to possession and use of the leased goods; and

(b) if the lease-of-goods aspects predominate, this

Article applies to the transaction, but does not preclude application in appropriate circumstances of other law to aspects of the lease which do not relate to the lease of goods.

(Source: P.A. 103-1036, eff. 1-1-25.)