Bill Text: IL SB3813 | 2011-2012 | 97th General Assembly | Amended
NOTE: There are more recent revisions of this legislation. Read Latest Draft
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.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Failed) 2013-01-08 - Session Sine Die [SB3813 Detail]
Download: Illinois-2011-SB3813-Amended.html
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.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Failed) 2013-01-08 - Session Sine Die [SB3813 Detail]
Download: Illinois-2011-SB3813-Amended.html
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| 1 | AMENDMENT TO SENATE BILL 3813
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 3813 on page 1, | ||||||
| 3 | line 11, by replacing "knows" with "knows or reasonably should | ||||||
| 4 | know"; and
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| 5 | on page 1, line 20, by replacing "who" with "who knows".
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