Illinois General Assembly - Illinois Compiled Statutes

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810 ILCS 5/9-509

    (810 ILCS 5/9-509)
    (Text of Section before amendment by P.A. 103-1036)
    Sec. 9-509. Persons entitled to file a record.

(a) Person entitled to file record.  A person may file an initial
financing statement, amendment that adds collateral covered by a financing
statement, or amendment that adds a debtor to a financing statement only if:

(1) the debtor authorizes the filing in an

authenticated record or pursuant to subsection (b) or (c); or

(2) the person holds an agricultural lien that has

become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.

(b) Security agreement as authorization.  By authenticating or
becoming bound as debtor by a security agreement, a debtor or new debtor
authorizes the filing of an initial financing statement, and an amendment,
covering:

(1) the collateral described in the security

agreement; and

(2) property that becomes collateral under Section

9-315(a)(2), whether or not the security agreement expressly covers proceeds.

(c) Acquisition of collateral as authorization.  By acquiring
collateral in which a security interest or agricultural lien continues under Section
9-315(a)(1), a debtor authorizes the filing of an initial financing statement, and an
amendment, covering the collateral and property that becomes collateral under
Section 9-315(a)(2).

(d) Person entitled to file certain amendments.  A person may
file an amendment other than an amendment that adds collateral covered by a
financing statement or an amendment that adds a debtor to a financing statement
only if:

(1) the secured party of record authorizes the

filing; or

(2) the amendment is a termination statement for a

financing statement as to which the secured party of record has failed to file or send a termination statement as required by Section 9-513(a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.

(e) Multiple secured parties of record.  If there is more than one
secured party of record for a financing statement, each secured party of record
may
authorize the filing of an amendment under subsection (d).

(Source: P.A. 91-893, eff. 7-1-01.)

    (Text of Section after amendment by P.A. 103-1036)
    Sec. 9-509. Persons entitled to file a record.

(a) Person entitled to file record. A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if:

(1) the debtor authorizes the filing in a signed

record or pursuant to subsection (b) or (c); or