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Note: Commerce is now known as Economic Development Law

RETRIEVE BILL
 
  Section 9--509. Persons Entitled to File a Record.
    (a) Person  entitled  to  file  record.  A  person may file an initial
  financing  statement,  amendment  that  adds  collateral  covered  by  a
  financing  statement,  or  amendment  that  adds a debtor to a financing
  statement only if:
         (1) the debtor authorizes the filing in an  authenticated  record
             or pursuant to subsection (b) or (c); or
         (2) the  person  holds  an  agricultural  lien  that  has  become
             effective at the time of filing and the  financing  statement
             covers   only   collateral  in  which  the  person  holds  an
             agricultural lien.
    (b) Security agreement as authorization. By authenticating or becoming
  bound as debtor  by  a  security  agreement,  a  debtor  or  new  debtor
  authorizes  the  filing  of  an  initial  financing  statement,  and  an
  amendment, covering:
         (1) the collateral described in the security agreement; and
         (2) property that becomes collateral under Section  9--315(a)(2),
             whether  or  not  the  security  agreement  expressly  covers
             proceeds.
    (c) Acquisition  of  collateral   as   authorization.   By   acquiring
  collateral  in  which a security interest or agricultural lien continues
  under Section 9--315(a)(1), a debtor authorizes the filing of an initial
  financing statement, and  an  amendment,  covering  the  collateral  and
  property that becomes collateral under Section 9--315(a)(2).
    (d) Person  entitled  to file certain amendments. A person may file an
  amendment other than an amendment that  adds  collateral  covered  by  a
  financing  statement  or  an amendment that adds a debtor to a financing
  statement only if:
         (1) the secured party of record authorizes the filing; or
         (2) the amendment is a  termination  statement  for  a  financing
             statement  as to which the secured party of record has failed
             to file or  send  a  termination  statement  as  required  by
             Section  9--513(a)  or (c), the debtor authorizes the filing,
             and the  termination  statement  indicates  that  the  debtor
             authorized it to be filed.
    (e) Multiple  secured  parties  of  record.  If there is more than one
  secured party of record for a financing statement, each secured party of
  record may authorize the filing of an amendment under subsection (d).

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