HB1041 Enrolled LRB093 05554 DRJ 05646 b

1     AN ACT concerning commercial transactions.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Uniform Commercial Code is amended by
5 changing Section 9-525 as follows:
 
6     (810 ILCS 5/9-525)
7     Sec. 9-525. Fees.
8     (a) Initial financing statement or other record: general
9 rule. Except as otherwise provided in subsection (e), the fee
10 for filing and indexing a record under this Part, other than an
11 initial financing statement of the kind described in subsection
12 (b), is:
13         (1) $20 if the record is communicated in writing and
14     consists of one or two pages;
15         (2) $20 if the record is communicated in writing and
16     consists of more than two pages; and
17         (3) $20 if the record is communicated by another medium
18     authorized by filing-office rule.
19     (b) Initial financing statement: public-finance and
20 manufactured-housing transactions. Except as otherwise
21 provided in subsection (e), the fee for filing and indexing an
22 initial financing statement of the following kind is:
23         (1) $20 if the financing statement indicates that it is
24     filed in connection with a public-finance transaction;
25         (2) $20 if the financing statement indicates that it is
26     filed in connection with a manufactured-home transaction.
27     (c) Number of names. The number of names required to be
28 indexed does not affect the amount of the fee in subsections
29 (a) and (b).
30     (d) Response to information request. The fee for responding
31 to a request for information from the filing office, including
32 for issuing a certificate showing communicating whether there

 

 

HB1041 Enrolled - 2 - LRB093 05554 DRJ 05646 b

1 is on file any financing statement naming a particular debtor,
2 is:
3         (1) $10 if the request is communicated in writing; and
4         (2) $10 if the request is communicated by another
5     medium authorized by filing-office rule.
6     (e) Record of mortgage. This Section does not require a fee
7 with respect to a record of a mortgage which is effective as a
8 financing statement filed as a fixture filing or as a financing
9 statement covering as-extracted collateral or timber to be cut
10 under Section 9-502(c). However, the recording and
11 satisfaction fees that otherwise would be applicable to the
12 record of the mortgage apply.
13     (f) Of the total money collected for each filing with the
14 Secretary of State of an original financing statement, amended
15 statement, continuation, or assignment, or for a release of
16 collateral, $12 of the filing fee shall be paid into the
17 Secretary of State Special Services Fund. The remaining $8
18 shall be deposited into the General Revenue Fund in the State
19 treasury.
20 (Source: P.A. 91-893, eff. 7-1-01.)
 
21     Section 99. Effective date. This Act takes effect on July
22 1, 2004.