Illinois General Assembly - Illinois Compiled Statutes

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810 ILCS 5/9-803

    (810 ILCS 5/9-803)
    Sec. 9-803. Security interest perfected before effective date.

(a)   Continuing perfection:  perfection requirements satisfied.   A security interest that is a perfected security interest immediately before the effective date of this amendatory Act of the 97th General Assembly  is a perfected security interest under  Article 9 as amended by this  amendatory Act of the 97th General Assembly   if, on the effective date of this amendatory Act of the 97th General Assembly, the applicable requirements for attachment and perfection under  Article 9 as amended by this  amendatory Act of the 97th General Assembly   are satisfied without further action.

(b)   Continuing perfection:  perfection requirements not satisfied.   Except as otherwise provided in Section 9-805, if, immediately before the effective date of this amendatory Act of the 97th General Assembly, a security interest is a perfected security interest, but the applicable requirements for perfection under  Article 9 as amended by this  amendatory Act of the 97th General Assembly   are not satisfied when this  amendatory Act of the 97th General Assembly  takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under  Article 9 as amended by this  amendatory Act of the 97th General Assembly   are satisfied within one year after the effective date of this amendatory Act of the 97th General Assembly.

(Source: P.A. 97-1034, eff. 7-1-13.)