TO BE RESCINDED
111-11-38 Assignment of powers of secured party of record.
(A) Status of the parties. An assignment shall have no effect on the status of the parties to the financing statement, except that each assignee named in the assignment shall become a secured party of record.
(B) Status of financing statement. An assignment shall have no effect upon the status of the financing statement.
111-11-38
Effective:
TO BE RESCINDED
01/25/2016
2
Five Year Review (FYR) Dates:
11/05/2015
CERTIFIED ELECTRONICALLY
Certification
01/12/2016
Date
Promulgated Under:
119.03
Statutory Authority:
1309.526
Rule Amplifies:
Prior Effective Dates:
1309.515, 1309.519
7/3/01 (Emer.), 9/20/01.
Document Information
- Effective Date:
- 1/25/2016
- File Date:
- 2016-01-12
- Last Day in Effect:
- 2016-01-25
- Five Year Review:
- Yes
- Rule File:
- 111-11-38_PH_FF_R_RU_20160112_0852.pdf
- Related Chapter/Rule NO.: (1)
- Ill. Adm. Code 111-11-38. Assignment of powers of secured party of record