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(810 ILCS 5/9-509)
Sec. 9-509.
Persons entitled to file a record.
(a) Person entitled to file record. A person may file an initial
financing statement, amendment that adds collateral covered by a financing
statement, or amendment that adds a debtor to a financing statement only if:
(1) the debtor authorizes the filing in an |
| authenticated record or pursuant to subsection (b) or (c); or
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(2) the person holds an agricultural lien that has
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| become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.
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(b) Security agreement as authorization. By authenticating or
becoming bound as debtor by a security agreement, a debtor or new debtor
authorizes the filing of an initial financing statement, and an amendment,
covering:
(1) the collateral described in the security
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(2) property that becomes collateral under Section
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| 9-315(a)(2), whether or not the security agreement expressly covers proceeds.
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(c) Acquisition of collateral as authorization. By acquiring
collateral in which a security interest or agricultural lien continues under Section
9-315(a)(1), a debtor authorizes the filing of an initial financing statement, and an
amendment, covering the collateral and property that becomes collateral under
Section 9-315(a)(2).
(d) Person entitled to file certain amendments. A person may
file an amendment other than an amendment that adds collateral covered by a
financing statement or an amendment that adds a debtor to a financing statement
only if:
(1) the secured party of record authorizes the
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(2) the amendment is a termination statement for a
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| financing statement as to which the secured party of record has failed to file or send a termination statement as required by Section 9-513(a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.
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(e) Multiple secured parties of record. If there is more than one
secured party of record for a financing statement, each secured party of record
may
authorize the filing of an amendment under subsection (d).
(Source: P.A. 91-893, eff. 7-1-01.)
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