Illinois Compiled Statutes 815 ILCS 180/55 – Uniform Commercial Code
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Terms Used In Illinois Compiled Statutes 815 ILCS 180/55
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
The obligations and rights of the creditor and the debtor with respect to the collateral as provided by the Uniform Commercial Code are not affected by this Act.