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CENTRAL FIN. LOAN CORP. v. BANK OF ILLINOIS

No. 4-86-0297.

149 Ill. App.3d 724 (1986)

500 N.E.2d 1066

CENTRAL FINANCE LOAN CORPORATION, Plaintiff-Appellee, v. THE BANK OF ILLINOIS, Defendant-Appellant.

Appellate Court of Illinois — Fourth District.

Opinion filed November 18, 1986.

Attorney(s) appearing for the Case

John E. Maloney, of Maloney & Davis, of Urbana, for appellant.

Arthur M. Lerner, of Greaves, Lerner & Kirchner, of Champaign, for appellee.

Reversed and remanded.

JUSTICE GREEN delivered the opinion of the court:

This case concerns the application of sections 9-306(2) and 9-307(1) of the Uniform Commercial Code (UCC) (Ill. Rev. Stat. 1983, ch. 26, pars. 9-306(2), 9-307(1)). Section 9-306(2) states:

"(2) Except where this Article otherwise provides, a security interest continues in collateral notwithstanding sale, exchange or other disposition...

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