Illinois Administrative Code
Title 14 - COMMERCE
Section 180.10 - Definitions

Universal Citation: 14 IL Admin Code ยง 180.10
Current through Register Vol. 47, No. 25, June 23, 2023

"Amendment" means a UCC record that amends the information contained in a financing statement. Amendments include assignments, continuations and terminations.

"Assignment" means an amendment that assigns all or a part of a secured party's power to authorize an amendment to a financing statement.

"Continuation statement" shall have the meaning prescribed by Section 9-102(27) of the UCC.

"Correction statement" means a UCC record that indicates that a financing statement is inaccurate or wrongfully filed.

"Department" means the Department of Business Services of the Office of the Secretary of State.

"Director" means the Director of the Department.

"File number" shall have the meaning prescribed by Section 9-519(b) of the UCC [810 ILCS 5/9-519(b) ].

"Filing office" and "filing officer" means Secretary of State (see Section 9-501 of the UCC [810 ILCS 5/9-501 ]).

"Filing officer statement" means a statement entered into the filing office's

information system to correct an error by the filing office.

"Financing statement" shall have the meaning prescribed by Section 9-102(39) of the UCC [810 ILCS 5/9-102(39) ].

"Individual" means a human being or a decedent, in the case of a debtor that is the decedent's estate.

"Initial financing statement" means a UCC record that does not identify itself as an amendment or identify an initial financing statement to which it relates, as required by Section 9-512, 9-514 or 9-518 of the UCC [810 ILCS 5/9-512, 9 -514 or 9-518].

"Online services" means the interactive computer applications for UCC document filing and search functions, including direct computer access, available on the Illinois Secretary of State web site.

"Organization" means a legal person who is not an individual.

"Remitter" means a person who tenders a UCC record to the filing officer for filing, whether the person is a filer or an agent of a filer responsible for tendering the record for filing. "Remitter" does not include a person responsible merely for the delivery of the record to the filing office, such as the postal service or a courier service, but does include a service provider who acts as a filer's representative in the filing process.

"Secretary" means the Secretary of State of Illinois.

"Secured party of record" shall have the meaning prescribed in Section 9-511 of the UCC [810 ILCS 5/9-511 ].

"Termination statement" shall have the meaning prescribed by Section 9-102(79) of the UCC [810 ILCS 5/9-102(79) ].

"UCC" means the Uniform Commercial Code-Secured Transactions as adopted in this State at 810 ILCS 5 /Art. 9.

"UCC Division" means that unit of the Department that records, maintains, supplies copies, and otherwise administers the UCC.

"UCC record" means an initial financing statement, an amendment, an assignment, a continuation, a termination, or a correction statement, and shall not be deemed to refer exclusively to paper-based writings.

Amended at 30 Ill. Reg. 12977, effective July 11, 2006

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