Terms Used In Utah Code 70A-3-102
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
| (2) |
If there is conflict between this chapter and Title 70A, Chapter 4, Uniform Commercial Code – Bank Deposits and Collections, or Chapter 9a, Uniform Commercial Code – Secured Transactions, Title 70A, Chapter 4, Uniform Commercial Code – Bank Deposits and Collections, or Chapter 9a, Uniform Commercial Code – Secured Transactions, govern. |
| (3) |
Regulations of the Board of Governors of the Federal Reserve System and operating circulars of the Federal Reserve Banks supersede any inconsistent provision of this chapter to the extent of the inconsistency. |
Repealed and Re-enacted by Chapter 237, 1993 General Session
