Effective 5/9/2017 25-6-402. Governing law. (1) In this section, the following rules determine the debtor’s location: (a) a debtor who is an individual is located at the individual’s principal residence; (b) a debtor that is an organization and has only one place of business is located at its place of business; and (c) a debtor […]
Effective 5/9/2017 25-6-403. Application to series organization. (1) As used in this section: (a) “Protected series” means an arrangement, however denominated, created by a series organization that, pursuant to the law under which the series organization is organized, has the characteristics described in Subsection (1)(b). (b) “Series organization” means an organization that, pursuant to the […]
Effective 5/9/2017 25-6-404. Legal principles applicable to chapter. Unless displaced by this chapter, the principles of law and equity, including merchant law and the law relating to principal and agent, equitable subordination, estoppel, laches, fraud, misrepresentation, duress, coercion, mistake, insolvency, or other validating or invalidating cause, supplement this chapter’s provisions. Renumbered and Amended by Chapter […]
Effective 5/9/2017 25-6-405. Construction of chapter. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it. Renumbered and Amended by Chapter 204, 2017 General Session
Effective 5/9/2017 25-6-406. Applicability of chapter. (1) This chapter applies when any transfer occurs after the effective date of this act. (2) The amendments to this chapter that take effect on May 9, 2017: (a) apply to a transfer made or obligation incurred on or after May 9, 2017; (b) do not apply to a […]
Effective 5/9/2017 25-6-407. Relation to Electronic Signatures in Global and National Commerce Act. This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Sec. 7001 et seq., but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. Sec. 7001(c), or authorize electronic delivery of […]
