Bill Title: Amends the Secured Transactions Article of the Uniform Commercial Code. Provides that a person may not cause to be presented for filing a financing statement or amendment that the person knows or reasonably should know: is not related to a valid lien, a valid security agreement, or a judgment of a court of competent jurisdiction; is for an improper purpose or purposes, such as to harass, hinder, defraud, or otherwise interfere with any person; or contains materially false or misleading information. Imposes criminal penalties for violations and civil liability to injured persons. Requires the Secretary of State to make available a form affidavit to provide notice of a fraudulent financing statement or amendment. Contains provisions regarding: filing a fraudulent filing affidavit; additional documentation supporting a filing; review of documentation; termination of a financing statement or amendment; fees; notice; reinstatement; liability; effectiveness; and other matters. Effective immediately.
[Track Bill]Status: 2012-07-20 - Public Act . . . . . . . . . 97-0836
[HB5190 Detail]
Bill Drafts
| Revision | Date | Source | Format |
|---|
| Chaptered | 2012-07-20 | Link | HTML/Text |
| Enrolled | 2012-05-22 | Link | HTML/Text |
| Engrossed | 2012-03-28 | Link | HTML/Text |
| Amended | 2012-03-21 | Link | HTML/Text |
| Introduced | 2012-02-08 | Link | HTML/Text |
Amendments
| Amendment | Date | Disposition | Source | Format |
|---|
| No bill amendments currently on file for Illinois HB5190 |
Supplemental Documents
| Title | Description | Date | Source | Format |
|---|
| No supplemental documents for Illinois HB5190 currently on file. |
