Description
Illinois Secured Transactions Under Article 9 of the Uniform Commercial Code: Forms and Practice Manual
Prominent Illinois attorneys, J. Mark Fisher and Scott E. Pickens, have drawn from their extensive experience to bring you this practical, easy-to-use book, containing a comprehensive collection of all the current rules of Article 9, along with extensive commentaries on how they affect the forms and procedures used in Illinois today.
The First Edition of this forms and practice manual was published in 2000, following the adoption by the Illinois legislature of revised UCC Article 9. Over the course of 14 years, what had been commonly referred to as “Revised Article 9” became firmly entrenched in the legal practice as simply “Article 9.” This Second Edition of Illinois Secured Transactions Under Article 9 of the Uniform Commercial Code: Forms and Practice Manual published in 2015 provides a comprehensive update of the Manual to present an overview of Article 9 for Illinois commercial law practitioners and conveniently provides all forms available in electronic format for immediate use.
We are dedicated to providing you with the most up-to-date information available and we know that you will find the material in this Second Edition to be both useful and informative. A number of significant additions made in the most recent update include:
Important features of this year’s supplement include:
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- New and Updated Forms:
- Inducement Agreement for sharing proceeds of collateral with private equity sponsor to keep sponsor engaged in management through going concern sale of borrower;
- LLC Agreement with modifications compatible with Inducement Agreement;
- Summary of 2022 UCC Amendments to Articles 1 and 8 and New Article 12 regarding the definition, perfection by control and priority of security interests in electronic forms of accounts, money, chattel paper and payment intangibles and assets held by securities intermediaries. While not yet introduced in Illinois, they are enacted in 10 states and introduced in 18 states with a common effective date of July 1, 2025.
- New and Updated Forms:
