Illinois General Assembly - Illinois Compiled Statutes

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810 ILCS 5/12A-102

    (810 ILCS 5/12A-102)
    Sec. 12A-102. Definitions.
    (a) In this Article:
        (1) "Adjustment date" means July 1, 2025, or the date

that is one year after the effective date of this amendatory Act of the 103rd General Assembly, whichever is later.

(2) "Article 12" means Article 12 of the Uniform

Commercial Code.

(3) "Article 12 property" means a controllable

account, controllable electronic record, or controllable payment intangible.

(b) Definitions in other Articles. The following definitions in other Articles of the Uniform Commercial Code apply to this Article.

    "Controllable account". Section 9-102.
    "Controllable electronic record". Section 12-102.
    "Controllable payment intangible". Section 9-102.
    "Electronic money". Section 9-102.
    "Financing statement". Section 9-102.

(c) Article 1 definitions and principles. Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.

(Source: P.A. 103-1036, eff. 1-1-25.)