Illinois Statutes
§ 9-107B — No requirement to acknowledge or confirm; no duties
Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 9 - Secured Transactions
(a)No requirement to acknowledge. A person that has control under Section 9-104, 9-105, or 9-105A is not required to acknowledge that it has control on behalf of another person.
(b)No duties or confirmation. If a person acknowledges that it has or will obtain control on behalf of another person, unless the person otherwise agrees or law other than this Article otherwise provides, the person does not owe any duty to the other person and is not required to confirm the acknowledgment to any other person.
Free access — add to your briefcase to read the full text and ask questions with AI
Illinois § 9-107B (No requirement to acknowledge or confirm; no duties) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 103-1036, eff. 1-1-25 .)
Nearby Sections
15
§ 9-101
Short title§ 9-103
§ 9-103§ 9-104
Control of deposit account§ 9-105
§ 9-105§ 9-105A
Control of electronic money§ 9-107A
§ 9-107A§ 9-108
Sufficiency of description§ 9-109
Scope§ 9-112
(Blank)