Illinois Compiled Statutes
ILCS Listing
Public
Acts Search
Guide
Disclaimer
Information maintained by the Legislative
Reference Bureau
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as Public
Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Guide.
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
810 ILCS 5/9-201 (810 ILCS 5/9-201) (from Ch. 26, par. 9-201) (Text of Section before amendment by P.A. 103-1036) Sec. 9-201. General effectiveness of security agreement. (a) General effectiveness. Except as otherwise provided in the Uniform Commercial Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (b) Applicable consumer laws and other law. A transaction subject to this Article is subject to any applicable rule of law, statute, or regulation which establishes a different rule for consumers, including: (1) the Retail Installment Sales Act; (2) the Motor Vehicle Retail Installment Sales Act; (3) Article II of Chapter 3 of the Illinois Vehicle | | (4) Article IIIB of the Boat Registration and Safety
| | (5) the Pawnbroker Regulation Act of 2023;
(6) the Motor Vehicle Leasing Act;
(7) the Consumer Installment Loan Act; and
(8) the Consumer Deposit Security Act of 1987.
(c) Other applicable law controls. In case of conflict between this Article and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a rule of law, statute, or regulation described in subsection (b) has only the effect such rule of law, statute, or regulation specifies.
(d) Further deference to other applicable law. This Article does not:
(1) validate any rate, charge, agreement, or practice
| | that violates a rule of law, statute, or regulation described in subsection (b); or
|
| (2) extend the application of the rule of law,
| | statute, or regulation to a transaction not otherwise subject to it.
|
| (Source: P.A. 103-585, eff. 3-22-24.)
(Text of Section after amendment by P.A. 103-1036)
Sec. 9-201. General effectiveness of security agreement.
(a) General effectiveness. Except as otherwise provided in the Uniform Commercial Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.
(b) Applicable consumer laws and other law. A transaction subject to this Article is subject to any applicable rule of law, statute, or regulation which establishes a different rule for consumers, including, without limitation:
(1) the Retail Installment Sales Act;
(2) the Motor Vehicle Retail Installment Sales Act;
(3) Article II of Chapter 3 of the Illinois Vehicle
| | (4) Article IIIB of the Boat Registration and Safety
| | (5) the Pawnbroker Regulation Act of 2023;
(6) the Motor Vehicle Leasing Act;
(7) the Consumer Installment Loan Act;
(8) the Consumer Deposit Security Act of 1987;
(9) the Predatory Loan Prevention Act;
(10) the Consumer Fraud and Deceptive Business
| | (11) any other statute or regulation that regulates
| | the rates, charges, agreements, and practices for loans, credit sales, or other extensions of credit; and
|
| (12) any consumer protection statute or regulation.
(c) Other applicable law controls. In case of conflict between this Article and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a rule of law, statute, or regulation described in subsection (b) has only the effect such rule of law, statute, or regulation specifies.
(d) Further deference to other applicable law. This Article does not:
(1) validate any rate, charge, agreement, or practice
| | that violates a rule of law, statute, or regulation described in subsection (b); or
|
| (2) extend the application of the rule of law,
| | statute, or regulation to a transaction not otherwise subject to it.
|
| (Source: P.A. 103-585, eff. 3-22-24; 103-1036, eff. 1-1-25.)
|
|
