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810 ILCS 5/Art. 8 Pt. 6

(810 ILCS 5/Art. 8 Pt. 6 heading) PART 6.

TRANSITION PROVISIONS FOR REVISED ARTICLE 8 AND

CONFORMING AMENDMENTS TO ARTICLES 1, 5, 9, AND 10

810 ILCS 5/8-601

(810 ILCS 5/8-601)

Sec. 8-601.

Effective date.

(Blank).

(Source: P.A. 89-364, eff. 1-1-96.)

810 ILCS 5/8-602

(810 ILCS 5/8-602)

Sec. 8-602.

Repeals.

(See Section 60 of Public Act 89-364 for repeal of
certain Sections of Article 8 of the Uniform Commercial Code.)

(Source: P.A. 89-364, eff. 1-1-96; 89-626, eff. 8-9-96.)

810 ILCS 5/8-603

(810 ILCS 5/8-603)

Sec. 8-603.

Savings clause.

(a) This amendatory Act of 1995 does not affect an action or proceeding
commenced
before this amendatory Act of 1995 takes effect.

(b)  If a security interest in a security is perfected at the date this
amendatory Act of 1995 takes effect, and the action by which the security
interest was
perfected would suffice to perfect a security interest under this amendatory
Act of 1995, no
further action is required to continue perfection.  If a security interest in a
security is perfected at the date this amendatory Act of 1995 takes effect but
the action by
which the security interest was perfected would not suffice to perfect a
security interest under this amendatory Act of 1995, the security interest
remains perfected
for a period of 4 months after the effective date and continues perfected
thereafter if appropriate action to perfect under this amendatory Act of 1995
is taken within
that period.  If
a security interest is perfected at the date this amendatory Act of 1995 takes
effect and the
security interest can be perfected by filing under this amendatory Act of 1995,
a financing
statement signed by the secured party instead of the debtor may be filed
within that period to continue perfection or thereafter to perfect.

(Source: P.A. 89-364, eff. 1-1-96.)