Section 409 – Restrictions on assignment of letter-of-credit rights ineffective.
70A-9a-409. Restrictions on assignment of letter-of-credit rights ineffective. (1) A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit which prohibits, restricts, or requires the consent of an applicant, issuer, or nominated person to a beneficiary’s assignment of or creation of a […]
Section 501 – Filing office.
70A-9a-501. Filing office. (1) Except as otherwise provided in Subsection (2), if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is: (a) the office designated for the filing or recording of […]
Section 502 – Contents of financing statement — Record of mortgage as financing statement — Time of filing financing statement.
70A-9a-502. Contents of financing statement — Record of mortgage as financing statement — Time of filing financing statement. (1) Subject to Subsection (2), a financing statement is sufficient only if it: (a) provides the name of the debtor; (b) provides the name of the secured party or a representative of the secured party; and (c) […]
Section 503 – Name of debtor and secured party.
70A-9a-503. Name of debtor and secured party. (1) A financing statement sufficiently provides the name of the debtor: (a) except as otherwise provided in Subsection (1)(c), if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides the name that […]
Section 504 – Indication of collateral.
70A-9a-504. Indication of collateral. A financing statement sufficiently indicates the collateral that it covers if the financing statement provides: (1) a description of the collateral pursuant to Section 70A-9a-108; or (2) an indication that the financing statement covers all assets or all personal property. Enacted by Chapter 252, 2000 General Session
Section 505 – Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions.
70A-9a-505. Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions. (1) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement, or may comply with a statute or treaty described in Subsection 70A-9a-311(1), […]
Section 337 – Priority of security interests in goods covered by certificate of title.
70A-9a-337. Priority of security interests in goods covered by certificate of title. If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title that does not show that the goods are subject to the security interest or contain a statement that […]
Section 338 – Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.
70A-9a-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information. If a security interest or agricultural lien is perfected by a filed financing statement providing information described in Subsection 70A-9a-516(2)(e) which is incorrect at the time the financing statement is filed: (1) the security interest or agricultural lien […]
Section 339 – Priority subject to subordination.
70A-9a-339. Priority subject to subordination. This chapter does not preclude subordination by agreement by a person entitled to priority. Enacted by Chapter 252, 2000 General Session
Section 340 – Effectiveness of right of recoupment or set-off against deposit account.
70A-9a-340. Effectiveness of right of recoupment or set-off against deposit account. (1) Except as otherwise provided in Subsection (3), a bank with which a deposit account is maintained may exercise any right of recoupment or set-off against a secured party that holds a security interest in the deposit account. (2) Except as otherwise provided in […]