|
|
||||
| Public Act 095-0446 |
||||
| ||||
| ||||
AN ACT concerning business.
| ||||
Be it enacted by the People of the State of Illinois,
| ||||
represented in the General Assembly:
| ||||
Section 5. The Uniform Commercial Code is amended by | ||||
changing Section 9-516 as follows:
| ||||
(810 ILCS 5/9-516)
| ||||
Sec. 9-516. What constitutes filing; effectiveness of | ||||
filing.
| ||||
(a) What constitutes filing. Except as otherwise provided | ||||
in
subsection (b), communication of a record to a filing office | ||||
and tender of the
filing
fee or acceptance of the record by the | ||||
filing office constitutes filing.
| ||||
(b) Refusal to accept record; filing does not occur. Filing | ||||
does
not occur with respect to a record that a filing office | ||||
refuses to accept
because:
| ||||
(1) the record is not communicated by a method or | ||||
medium
of communication authorized by the filing office;
| ||||
(2) an amount equal to or greater than the applicable | ||||
filing
fee is not tendered;
| ||||
(3) the filing office is unable to index the record | ||||
because:
| ||||
(A) in the case of an initial financing statement, | ||||
the
record does not provide a name for the debtor;
| ||||
(B) in the case of an amendment or correction
| ||
statement, the record:
| ||
(i) does not identify the initial financing
| ||
statement as required by Section 9-512 or 9-518, as | ||
applicable; or
| ||
(ii) identifies an initial financing statement
| ||
whose effectiveness has lapsed under Section | ||
9-515;
| ||
(C) in the case of an initial financing statement | ||
that
provides the name of a debtor identified as an | ||
individual or an amendment that
provides a name of a | ||
debtor identified as an individual which was not | ||
previously
provided in the financing statement to | ||
which the record relates, the record does not
identify | ||
the debtor's last name; or
| ||
(D) in the case of a record filed or recorded in | ||
the
filing office described in Section 9-501(a)(1), | ||
the record does not provide a
sufficient description of | ||
the real property to which it relates; or
| ||
(E) in the case of a record submitted to the filing | ||
office described in Section 9-501(b), the debtor does | ||
not meet the definition of a transmitting utility as | ||
described in Section 9-102(a)(80); | ||
(3.5) in the case of an initial financing statement or | ||
an amendment, if the filing office believes in good faith | ||
that a document submitted for filing is being filed for the | ||
purpose of defrauding any person or harassing any person in | ||
the performance of duties as a public servant;
| ||
(4) in the case of an initial financing statement or an
| ||
amendment that adds a secured party of record, the record | ||
does not provide a
name
and mailing address for the secured | ||
party of record;
| ||
(5) in the case of an initial financing statement or an
| ||
amendment that provides a name of a debtor which was not | ||
previously provided in
the financing statement to which the | ||
amendment relates, the record does not:
| ||
(A) provide a mailing address for the debtor;
| ||
(B) indicate whether the debtor is an individual or | ||
an
organization; or
| ||
(C) if the financing statement indicates that the
| ||
debtor is an organization, provide:
| ||
(i) a type of organization for the debtor;
| ||
(ii) a jurisdiction of organization for the
| ||
debtor; or
| ||
(iii) an organizational identification number
| ||
for the debtor or indicate that the debtor has | ||
none;
| ||
(6) in the case of an assignment reflected in an | ||
initial
financing statement under Section 9-514(a) or an | ||
amendment filed under Section
9-514(b), the record does not | ||
provide a name and mailing address for the assignee;
or
| ||
(7) in the case of a continuation statement, the record | ||
is not
filed within the six-month period prescribed by | ||
Section 9-515(d).
| ||
(c) Rules applicable to subsection (b). For purposes of | ||
subsection
(b):
| ||
(1) a record does not provide information if the filing | ||
office
is unable to read or decipher the information; and
| ||
(2) a record that does not indicate that it is an | ||
amendment or
identify an initial financing statement to | ||
which it relates, as required by
Section
9-512, 9-514, or | ||
9-518, is an initial financing statement.
| ||
(d) Refusal to accept record; record effective as filed | ||
record. A
record that is communicated to the filing office with | ||
tender of the filing fee,
but
which the filing office refuses | ||
to accept for a reason other than one set forth
in
subsection | ||
(b), is effective as a filed record except as against a | ||
purchaser of
the
collateral which gives value in reasonable | ||
reliance upon the absence of the
record
from the files.
| ||
(e) The Secretary of State may refuse to accept a record | ||
for filing under subdivision (b)(3)(E) or (b)(3.5) only if the | ||
refusal is approved by the Department of Business Services of | ||
the Secretary of State and the General Counsel to the Secretary | ||
of State.
| ||
(Source: P.A. 91-893, eff. 7-1-01.)
| ||