HB1041 Enrolled

LRB093 05554 DRJ 05646 b






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    AN ACT concerning commercial transactions. 

 
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    Be it enacted by the People of the State of Illinois, 
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represented in the General Assembly: 


 
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    Section 5. The Uniform Commercial Code is amended  by 
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changing Section 9-525 as follows:
 



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    (810 ILCS 5/9-525)



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    Sec. 9-525. Fees. 

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    (a) Initial financing
statement or
other record: general 
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rule.
Except as otherwise
provided in subsection (e), the fee 
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for filing and indexing a record under this
Part,
other than an 
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initial financing statement of the kind described in subsection

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(b),
is:


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        (1) $20 if the record is communicated in writing
and 
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    consists of one or two pages;


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        (2) $20 if the record is communicated in
writing and 
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    consists of more than two pages; and


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        (3) $20 if the record is communicated by another
medium 
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    authorized by filing-office rule.

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    (b) Initial financing statement:
public-finance
and

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manufactured-housing transactions.  Except as
otherwise 
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provided in subsection (e), the fee for filing and indexing an

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initial
financing statement of the following kind is:


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        (1) $20 if the financing statement indicates that it is

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    filed in connection with a public-finance transaction;


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        (2) $20 if the financing statement indicates that it is

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    filed in connection with a manufactured-home transaction.

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    (c) Number of names.  The number of names required to be

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indexed does not affect the amount of the fee in subsections 
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(a) and (b).

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    (d) Response to information request.  The fee for responding 
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to a
request for information from the filing office, including 
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for issuing a
certificate
showing communicating whether there 
 


 






HB1041 Enrolled
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LRB093 05554 DRJ 05646 b




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is on file any financing
statement naming
a particular debtor, 
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is:


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        (1) $10 if the request is communicated in writing; and


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        (2) $10 if the request is communicated by another

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    medium authorized by filing-office rule.

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    (e) Record of mortgage.  This Section does not require a fee 
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with
respect to a record of a mortgage which is effective as a 
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financing statement
filed as
a fixture filing or as a financing 
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statement covering as-extracted collateral
or timber
to be cut 
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under Section 9-502(c).  However, the recording and 
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satisfaction fees
that
otherwise would be applicable to the 
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record of the mortgage apply.
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    (f) Of the total money collected for each filing with the 
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Secretary of State of an original financing statement, amended 
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statement, continuation, or assignment, or for a release of 
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collateral, $12 of the filing fee shall be paid into the 
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Secretary of State Special Services Fund. The remaining $8 
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shall be deposited into the General Revenue Fund in the State 
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treasury.


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


 
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    Section 99. Effective date. This Act takes effect on July 
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1, 2004.