Section 607 – Collection and enforcement by secured party.
70A-9a-607. Collection and enforcement by secured party. (1) If so agreed, and in any event after default, a secured party: (a) may notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party; (b) may take any proceeds to which […]
Section 608 – Application of proceeds of collection or enforcement — Liability for deficiency and right to surplus.
70A-9a-608. Application of proceeds of collection or enforcement — Liability for deficiency and right to surplus. (1) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (a) A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under Section […]
Section 525 – Fees.
70A-9a-525. Fees. (1) Except as otherwise provided in Subsection (3), the fee for the Division of Corporations and Commercial Code filing and indexing a record under this part, including an initial financing statement of the kind described in Subsection 70A-9a-502(3), shall: (a) be determined by the Division of Corporations and Commercial Code; (b) be reasonable […]
Section 526 – Filing-office rules.
70A-9a-526. Filing-office rules. (1) The Division of Corporations and Commercial Code shall adopt and publish rules to implement this chapter that apply to a filing office described in Subsection 70A-9a-501(1)(b). The filing-office rules must be: (a) consistent with this chapter; and (b) adopted and published in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking […]
Section 601 – Rights after default — Judicial enforcement — Consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.
70A-9a-601. Rights after default — Judicial enforcement — Consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes. (1) After default, a secured party has the rights provided in this part and, except as otherwise provided in Section 70A-9a-602, those provided by agreement of the parties. A secured party: (a) may reduce a […]
Section 602 – Waiver and variance of rights and duties.
70A-9a-602. Waiver and variance of rights and duties. Except as otherwise provided in Section 70A-9a-624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections: (1) Subsection 70A-9a-207(2)(d)(iii), which […]
Section 515 – Duration and effectiveness of financing statement — Effect of lapsed financing statement.
70A-9a-515. Duration and effectiveness of financing statement — Effect of lapsed financing statement. (1) Except as otherwise provided in Subsections (2), (5), (6), and (7), a filed financing statement is effective for a period of five years after the date of filing. (2) Except as otherwise provided in Subsections (5), (6), and (7), an initial […]
Section 516 – What constitutes filing — Effectiveness of filing.
Effective 5/12/2015 70A-9a-516. What constitutes filing — Effectiveness of filing. (1) Except as otherwise provided in Subsection (2) or (5), communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing. (2) Filing does not occur with respect to a record […]
Section 517 – Effect of indexing errors.
70A-9a-517. Effect of indexing errors. The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record. Enacted by Chapter 252, 2000 General Session
Section 518 – Claim concerning inaccurate or wrongfully filed record.
70A-9a-518. Claim concerning inaccurate or wrongfully filed record. (1) A person may file in the filing office an information statement with respect to a record indexed there under the person’s name if the person believes that the record is inaccurate or was wrongfully filed. (2) An information statement under Subsection (1) must: (a) identify the […]