Illinois Compiled Statutes 810 ILCS 5 Uniform Commercial Code. Section 9-605

    (810 ILCS 5/9-605)

    Sec. 9-605. Unknown debtor or secondary obligor. A secured party does not owe a duty based on its status as secured party:

        (1) to a person that is a debtor or obligor, unless

    the secured party knows:

            (A) that the person is a debtor or obligor;

            (B) the identity of the person; and

            (C) how to communicate with the person; or

        (2) to a secured party or lienholder that has filed a

    financing statement against a person, unless the secured party knows:

            (A) that the person is a debtor; and

            (B) the identity of the person.

(Source: P.A. 91-893, eff. 7-1-01.)

Sections:  Previous  9-526  9-527  9-528  9-601  9-602  9-603  9-604  9-605  9-606  9-607  9-608  9-609  9-610  9-611  9-612  Next

Last modified: February 18, 2015