(810 ILCS 5/9-707)
Sec. 9-707.
Amendment of pre-effective-date financing statement.
(a) "Pre-effective-date financing statement". In this Section,
"pre-effective-date financing statement" means a financing statement filed
before
the effective date of this amendatory Act of the 91st General Assembly.
(b) Applicable law. After the effective date of this amendatory Act of the
91st General Assembly, a person may add or
delete collateral covered by, continue or terminate the effectiveness of, or
otherwise amend the information provided in, a pre-effective-date financing
statement only in accordance with the law of the jurisdiction governing
perfection as provided in Part 3. However, the effectiveness of a
pre-effective-date financing statement also may be terminated in accordance
with
the law of the jurisdiction in which the financing statement is filed.
(c) Method of amending: general rule. Except as otherwise provided in
subsection (d), if the law of this State governs perfection of a security
interest, the information in a pre-effective-date financing statement may be
amended after the effective date of this amendatory Act of the 91st General
Assembly only if:
(1) the pre-effective-date financing statement and an |
| amendment are filed in the office specified in Section 9-501;
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(2) an amendment is filed in the office specified in
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| Section 9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies Section 9-706(c); or
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(3) an initial financing statement that provides the
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| information as amended and satisfies Section 9-706(c) is filed in the office specified in Section 9-501.
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(d) Method of amending: continuation. If the law of this State governs
perfection of a security interest, the effectiveness of a pre-effective-date
financing statement may be continued only under Section 9-705(d) and (f) or
Section 9-706.
(e) Method of amending: additional termination rule. Whether or not the
law of this State governs perfection of a security interest, the effectiveness
of a pre-effective-date financing statement filed in this State may be
terminated after the effective date of this amendatory Act of the 91st General
Assembly by filing a termination statement in
the office in which the pre-effective-date financing statement is filed,
unless an initial financing statement that satisfies Section 9-706(c) has been
filed in the office specified by the law of the jurisdiction governing
perfection as provided in Part 3 as the office in which to file a financing
statement.
(Source: P.A. 91-893, eff. 7-1-01.)
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