House Sponsors: NOLAND-POE. Senate Sponsors: MADIGAN,R Short description: UCC-FILING FINANCING STATEMNTS Synopsis of Bill as introduced: Amends the Secured Transactions Article of the Uniform Commercial Code. Removes the provision that in order to perfect a security interest in equipment used in farming, farm products, items related to the sale of farm products by a farmer, or crops growing or to be grown, filing must occur in the office of the appropriate county recorder, instead of requiring filing in the office of the Secretary of State. Makes provisions for filings completed at county recorders offices before the effective date of this Amendatory Act of 1997. Effective January 1, 1998. HOUSE AMENDMENT NO. 1. Adds reference to: 55 ILCS 5/3-5018 from Ch. 34, par. 3-5018 810 ILCS 5/9-403 from Ch. 26, par. 9-403 Deletes everything. Reinserts language identical to the bill as introduced and additionally provides that on and after the effective date of this amendatory Act of 1997, a debtor who is a resident of Illinois using such items as collateral shall, within 30 days after filing with the Secretary of State, send to the recorder of the county of the debtor's residence, for informational purposes only, a copy of the financing statements filed with the Secretary of State, along with a $10 fee. Provides that these double filing requirements are inoperative after the earlier of July 1, 1999 or the effective date of changes made to the Code in conformance with recommendations of the National Conference of Commissioners on Uniform State Laws to make the office of the Secretary of State the proper place to file a financing statement described in these provisions. Provides that failure to file with the recorder does not affect the validity of the security interest. Amends the Counties Code to reflect changes to the Uniform Commercial Code. Effective January 1, 1998. Last action on Bill: PUBLIC ACT.............................. 90-0300 Last action date: 97-08-01 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status