Illinois § 9-333 Priority of certain liens arising by operation of law

Illinois Statutes

§ 9-333 — Priority of certain liens arising by operation of law

Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 9 - Secured Transactions

(a)"Possessory lien." In this Section, "possessory lien" means an interest, other than a security interest or an agricultural lien:

(1)which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;

(2)which is created by statute or rule of law in favor of the person; and (3) whose effectiveness depends on the person's possession of the goods.

(b)Priority of possessory lien. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

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(a) "Possessory lien." In this Section, "possessory lien" means an interest, other than a security interest or an agricultural lien: (1) which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business; (2) which is created by statute or rule of law in favor of the person; and (3) whose effectiveness depends on the person's possession of the goods. (b) Priority of possessory lien. A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

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