(810 ILCS 5/12A-102) (This Section may contain text from a Public Act with a delayed effective date) Sec. 12A-102. Definitions. (a) In this Article: (1) "Adjustment date" means July 1, 2025, or the date that is one year after the |
| effective date of this amendatory Act of the 103rd General Assembly, whichever is later.
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(2) "Article 12" means Article 12 of the Uniform Commercial Code.
(3) "Article 12 property" means a controllable account, controllable electronic record,
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| or controllable payment intangible.
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(b) Definitions in other Articles. The following definitions in other Articles of the Uniform Commercial Code apply to this Article.
"Controllable account". Section 9-102.
"Controllable electronic record". Section 12-102.
"Controllable payment intangible". Section 9-102.
"Electronic money". Section 9-102.
"Financing statement". Section 9-102.
(c) Article 1 definitions and principles. Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.
(Source: P.A. 103-1036, eff. 1-1-25.)
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