Section 705 – Effectiveness of action taken before effective date.
70A-9a-705. Effectiveness of action taken before effective date. (1) If action, other than the filing of a financing statement, is taken before this act takes effect and the action would have resulted in priority of a security interest over the rights of a person that becomes a lien creditor had the security interest become enforceable […]
Section 706 – When initial financing statement suffices to continue effectiveness of financing statement.
70A-9a-706. When initial financing statement suffices to continue effectiveness of financing statement. (1) The filing of an initial financing statement in the office specified in Section 70A-9a-501 continues the effectiveness of a financing statement filed before this act takes effect if: (a) the filing of an initial financing statement in that office would be effective […]
Section 707 – Amendment of pre-effective-date financing statement.
70A-9a-707. Amendment of pre-effective-date financing statement. (1) In this section, “pre-effective-date financing statement” means a financing statement filed before this act takes effect. (2) After this act takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement […]
Section 708 – Persons entitled to file initial financing statement or continuation statement.
70A-9a-708. Persons entitled to file initial financing statement or continuation statement. A person may file an initial financing statement or a continuation statement under this part if: (1) the secured party of record authorizes the filing; and (2) the filing is necessary under this part: (a) to continue the effectiveness of a financing statement filed […]
Section 709 – Priority.
70A-9a-709. Priority. (1) This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this act takes effect, former Chapter 9, Secured Transactions – Sales of Accounts, Contract Rights and Chattel Paper, determines priority. (2) For purposes of Subsection 70A-9a-322(1), the priority of a security […]
Section 801 – Savings clause.
70A-9a-801. Savings clause. (1) Except as otherwise provided in this part, Laws of Utah 2013, Chapter 225 applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before July 1, 2013. (2)Laws of Utah 2013, Chapter 225 does not affect an action, case, or proceeding […]
Section 624 – Waiver.
70A-9a-624. Waiver. (1) A debtor or secondary obligor may waive the right to notification of disposition of collateral under Section 70A-9a-611 only by an agreement to that effect entered into and authenticated after default. (2) A debtor may waive the right to require disposition of collateral under Subsection 70A-9a-620(5) only by an agreement to that […]
Section 625 – Remedies for secured party’s failure to comply with chapter.
70A-9a-625. Remedies for secured party’s failure to comply with chapter. (1) If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection, enforcement, or disposition of collateral on appropriate terms and conditions. (2) Subject to Subsections (3), (4), and (5), a person is […]
Section 626 – Action in which deficiency or surplus is in issue.
70A-9a-626. Action in which deficiency or surplus is in issue. (1) In an action arising from a transaction, other than a consumer transaction, in which the amount of a deficiency or surplus is in issue, the following rules apply: (a) A secured party need not prove compliance with the provisions of this part relating to […]
Section 627 – Determination of whether conduct was commercially reasonable.
70A-9a-627. Determination of whether conduct was commercially reasonable. (1) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that […]