Sec. 9-205.1. Listing by debtor of purchasers or receivers of collateral.
95 words·~1 min read·
/il/chapter-810/act-5/9-205-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 9-205.1. Listing by debtor of purchasers or receivers of collateral. A secured party may require that the debtor include as part of the security agreement a list of persons to whom the debtor desires to sell or otherwise dispose of the collateral. The debtor shall not sell or otherwise dispose of the collateral to a person not included in that list unless the debtor has notified the secured party of his desire to sell or otherwise dispose of the collateral to such person at least 7 days prior to the sale or other disposition.