Section 604 – Procedure if security agreement covers real property or fixtures.
70A-9a-604. Procedure if security agreement covers real property or fixtures. (1) If a security agreement covers both personal and real property, a secured party may proceed: (a) under this part as to the personal property without prejudicing any rights with respect to the real property; or (b) as to both the personal property and the […]
Section 605 – Unknown debtor or secondary obligor.
70A-9a-605. Unknown debtor or secondary obligor. A secured party does not owe a duty based on its status as secured party: (1) to a person that is a debtor or obligor, unless the secured party knows: (a) that the person is a debtor or obligor; (b) the identity of the person; and (c) how to […]
Section 606 – Time of default for agricultural lien.
70A-9a-606. Time of default for agricultural lien. For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created. Enacted by Chapter 252, 2000 General Session
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 603 – Agreement on standards concerning rights and duties.
70A-9a-603. Agreement on standards concerning rights and duties. (1) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in Section 70A-9a-602 if the standards are not manifestly unreasonable. (2) Subsection (1) does not apply […]