Section 331 – Priority of rights of purchasers of instruments, documents, and securities under other chapters — Priority of interests in financial assets and security entitlements under Chapter 8, Uniform Commercial Code — Investment Securities.
70A-9a-331. Priority of rights of purchasers of instruments, documents, and securities under other chapters — Priority of interests in financial assets and security entitlements under Chapter 8, Uniform Commercial Code — Investment Securities. (1) This chapter does not limit the rights of a holder in due course of a negotiable instrument, a holder to which […]
Section 332 – Transfer of money — Transfer of funds from deposit account.
70A-9a-332. Transfer of money — Transfer of funds from deposit account. (1) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights of the secured party. (2) A transferee of funds from a deposit account takes the funds free of […]
Section 333 – Priority of certain liens arising by operation of law.
70A-9a-333. Priority of certain liens arising by operation of law. (1) In this section, “possessory lien” means an interest, other than a security interest or an agricultural lien: (a) which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the […]
Section 334 – Priority of security interests in fixtures and crops.
70A-9a-334. Priority of security interests in fixtures and crops. (1) A security interest under this chapter may be created in goods that are fixtures or may continue in goods that become fixtures. A security interest does not exist under this chapter in ordinary building materials incorporated into an improvement on land. (2) This chapter does […]
Section 335 – Accessions.
70A-9a-335. Accessions. (1) A security interest may be created in an accession and continues in collateral that becomes an accession. (2) If a security interest is perfected when the collateral becomes an accession, the security interest remains perfected in the collateral. (3) Except as otherwise provided in Subsection (4), the other provisions of this part […]
Section 336 – Commingled goods.
70A-9a-336. Commingled goods. (1) In this section, “commingled goods” means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass. (2) A security interest does not exist in commingled goods as such. However, a security interest may attach to a product or mass […]
Section 317 – Interests that take priority over or take free of security interest or agricultural lien.
70A-9a-317. Interests that take priority over or take free of security interest or agricultural lien. (1) A security interest or agricultural lien is subordinate to the rights of: (a) a person entitled to priority under Section 70A-9a-322; and (b) except as otherwise provided in Subsection (5), a person that becomes a lien creditor before the […]
Section 318 – No interest retained in right to payment that is sold — Rights and title of seller of account or chattel paper with respect to creditors and purchasers.
70A-9a-318. No interest retained in right to payment that is sold — Rights and title of seller of account or chattel paper with respect to creditors and purchasers. (1) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold. […]
Section 319 – Rights and title of consignee with respect to creditors and purchasers.
70A-9a-319. Rights and title of consignee with respect to creditors and purchasers. (1) Except as otherwise provided in Subsection (2), for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee is deemed to have rights […]
Section 320 – Buyer of goods.
70A-9a-320. Buyer of goods. (1) Except as otherwise provided in Subsection (5), a buyer in ordinary course of business, other than a person buying farm products from a person engaged in farming operations, takes free of a security interest created by the buyer’s seller, even if the security interest is perfected and the buyer knows […]