Illinois Compiled Statutes 810 ILCS 5/9-501 – Filing office
Current as of: 2024 | Check for updates
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(a) Filing offices. Except as otherwise provided in subsection (b), if the local law of this State governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is:
(1) the office designated for the filing or recording
(1) the office designated for the filing or recording
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of a record of a mortgage on the related real property, if:
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(A) the collateral is as-extracted collateral or
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timber to be cut; or
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(B) the financing statement is filed as a fixture
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filing and the collateral is goods that are or are to become fixtures; or
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(2) the office of the Secretary of State in all other
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cases, including a case in which the collateral is goods that are or are to become fixtures and the financing statement is not filed as a fixture filing.
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(b) Filing office for transmitting utilities. The office in which to file a financing statement to perfect a security interest in collateral, including fixtures, of a transmitting utility is the office of the Secretary of State. The financing statement also constitutes a fixture filing as to the collateral indicated in the financing statement which is or is to become fixtures.
Terms Used In Illinois Compiled Statutes 810 ILCS 5/9-501
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14