Section 117 – Uniformity of application and construction.
57-26-117. Uniformity of application and construction. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. Enacted by Chapter 139, 2009 General Session
Section 118 – Relation to Electronic Signatures in Global and National Commerce Act.
57-26-118. Relation to Electronic Signatures in Global and National Commerce Act. This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act (15 U.S.C. Section 7001, et seq.) but does not modify, limit, or supersede Section 101(c) of that act (15 U.S.C. Section 7001(c)) or authorize electronic delivery of any […]
Section 119 – Application to existing relationships.
57-26-119. Application to existing relationships. (1) Except as otherwise provided in this section, this chapter governs the enforcement of an assignment of rents and the perfection and priority of a security interest in rents, even if the document creating the assignment was signed and delivered before May 12, 2009. (2) This chapter does not affect […]
Section 116 – Priority subject to subordination.
57-26-116. Priority subject to subordination. This chapter does not preclude subordination by agreement as to rents or proceeds. Enacted by Chapter 139, 2009 General Session
Section 106 – Enforcement of security interest in rents.
57-26-106. Enforcement of security interest in rents. (1) An assignee may enforce an assignment of rents using one or more of the methods specified in Sections 57-26-107, 57-26-108, and 57-26-109 or any other method sufficient to enforce the assignment under law of this state other than this chapter. (2) From the date of enforcement, the […]
Section 107 – Enforcement by appointment of receiver.
57-26-107. Enforcement by appointment of receiver. (1) An assignee is entitled to the appointment of a receiver for the real property subject to the assignment of rents if: (a) the assignor is in default and: (i) the assignor has agreed in a signed document to the appointment of a receiver in the event of the […]
Section 108 – Enforcement by notification to assignor.
57-26-108. Enforcement by notification to assignor. (1) Upon the assignor’s default, or as otherwise agreed by the assignor, the assignee may give the assignor a notification demanding that the assignor pay over the proceeds of any rents that the assignee is entitled to collect under Section 57-26-106. The assignee shall also give a copy of […]
Section 109 – Enforcement by notification to tenant.
57-26-109. Enforcement by notification to tenant. (1) Upon the assignor’s default, or as otherwise agreed by the assignor, the assignee may give to a tenant of the real property a notification demanding that the tenant pay to the assignee all unpaid accrued rents and all unaccrued rents as they accrue. The assignee shall give a […]
Section 110 – Notification to tenant — Form.
57-26-110. Notification to tenant — Form. No particular phrasing is required for the notification specified in Section 57-26-109. However, the following form of notification, when properly completed, is sufficient to satisfy the requirements of Section 57-26-109: NOTIFICATION TO PAY RENTS TO PERSON OTHER THAN LANDLORD Tenant: _______________________________________________________________ Name of Tenant Property Occupied by Tenant (the […]
Section 111 – Effect of enforcement.
57-26-111. Effect of enforcement. The enforcement of an assignment of rents by one or more of the methods identified in Sections 57-26-107, 57-26-108, and 57-26-109, the application of proceeds by the assignee under Section 57-26-112 after enforcement, the payment of expenses under Section 57-26-113, or an action under Subsection 57-26-114(4) does not: (1) make the […]