{"data":{"id":"us-il/810-ilcs-5-9-323","jurisdiction":"us-il","citation":"810 ILCS 5/9-323","heading":"Future advances.","body":"(a) When priority based on time of advance. Except as otherwise provided in subsection (c), for purposes of determining the priority of a perfected security interest under Section 9-322(a)(1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:\n(1) is made while the security interest is perfected only:\n(A) under Section 9-309 when it attaches; or\n(B) temporarily under Section 9-312(e), (f), or (g); and\n(2) is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under Section 9-309 or 9-312(e), (f), or (g).\n(b) Lien creditor. Except as otherwise provided in subsection (c), a security interest is subordinate to the rights of a person that becomes a lien creditor to the extent that the security interest secures an advance made more than 45 days after the person becomes a lien creditor unless the advance is made:\n(1) without knowledge of the lien; or\n(2) pursuant to a commitment entered into without knowledge of the lien.\n(c) Buyer of receivables. Subsections (a) and (b) do not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.\n(d) Buyer of goods. Except as otherwise provided in subsection (e), a buyer of goods takes free of a security interest to the extent that it secures advances made after the earlier of:\n(1) the time the secured party acquires knowledge of the buyer's purchase; or\n(2) 45 days after the purchase.\n(e) Advances made pursuant to commitment: priority of buyer of goods. Subsection (d) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer's purchase and before the expiration of the 45-day period.\n(f) Lessee of goods. Except as otherwise provided in subsection (g), a lessee of goods takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of:\n(1) the time the secured party acquires knowledge of the lease; or\n(2) 45 days after the lease contract becomes enforceable.\n(g) Advances made pursuant to commitment: priority of lessee of goods. Subsection (f) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the 45-day period.","path":["CHAPTER 810 COMMERCIAL CODE","Uniform Commercial Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=2301\u0026ChapterID=66\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:47Z","sha256":"32b5495f8d64cb1739a2257bada551d8da7045e26d6d985ee23638bcb4ebdf87","source_id":"us-il","stale":false,"prev":"us-il/810-ilcs-5-9-322","next":"us-il/810-ilcs-5-9-324"},"notice":"GroundRules: Original legal text. Not legal advice."}