On November 5, 2014, the First District Appellate Court held that the Uniform Commercial Code ("UCC") controls the levy of securities, not the Code of Civil Procedure. Accordingly, levy is governed by the law of the security issuer's jurisdiction, as specified in the UCC.
Section 9-516 of the Illinois Uniform Commercial Code has been amended. 810 ILCS 5/9-516. This section, entitled "What constitutes filing; effectiveness of filing," has been changed to add three new subsections to 9-516(b) concerning what documents may be refused or do not constitute the filing of a financing statement.
On June 29, 2007, the Illinois Appellate Court, First District, remanded the order of the Circuit Court of Cook County awarding judgment in favor of Lula Stoval due to the circuit court's error in applying an absolute bar to General Motors Acceptance Corporation's (GMAC) deficiency judgment against Stoval.
On October 6, 2006, the Illinois Appellate Court, Third District, affirmed the decision of the Circuit Court of Will County, held that implied warranties had been disclaimed throughout the course of dealings between a window manufacturer and one of its parts suppliers, and granted the defendant parts supplier's motion to dismiss.