Utah Code 70A-9a-109. Scope
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(1) Except as otherwise provided in Subsections (3) and (4) , this chapter applies to:
Terms Used In Utah Code 70A-9a-109
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- real property: includes :
(31)(a) land;(31)(b) a tenement;(31)(c) a hereditament;(31)(d) a water right;(31)(e) a possessory right; and(31)(f) a claim. See Utah Code 68-3-12.5- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Statute: A law passed by a legislature.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
- United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
(1)(a) a transaction, regardless of its form, that creates a security interest in personal property or fixtures by contract;(1)(b) an agricultural lien;(1)(c) a sale of accounts, chattel paper, payment intangibles, or promissory notes;(1)(d) a consignment;(1)(e) a security interest arising under Section70A-2-401 or70A-2-505 or Subsection70A-2-711(3) or70A-2a-508(5) , as provided in Section70A-9a-110 ; and(1)(f) a security interest arising under Section70A-4-210 or70A-5-118 .(2) The application of this chapter to a security interest in a secured obligation is not affected by the fact that the obligation is itself secured by a transaction or interest to which this chapter does not apply.(3) This chapter does not apply to the extent that:(3)(a) a statute, regulation, or treaty of the United States preempts this chapter;(3)(b) another statute of this state expressly governs the creation, perfection, priority, or enforcement of a security interest created by this state or a governmental unit of this state;(3)(c) a statute of another state, a foreign country, or a governmental unit of another state or a foreign country, other than a statute generally applicable to security interests, expressly governs creation, perfection, priority, or enforcement of a security interest created by the state, country, or governmental unit; or(3)(d) the rights of a transferee beneficiary or nominated person under a letter of credit are independent and superior under Section70A-5-114 .(4) This chapter does not apply to:(4)(a) a landlord’s lien, other than an agricultural lien;(4)(b) a lien, other than an agricultural lien, given by statute or other rule of law for services or materials, but Section70A-9a-333 applies with respect to priority of the lien;(4)(c) an assignment of a claim for wages, salary, or other compensation of an employee;(4)(d) a sale of accounts, chattel paper, payment intangibles, or promissory notes as part of a sale of the business out of which they arose;(4)(e) an assignment of accounts, chattel paper, payment intangibles, or promissory notes which is for the purpose of collection only;(4)(f) an assignment of a right to payment under a contract to an assignee that is also obligated to perform under the contract;(4)(g) an assignment of a single account, payment intangible, or promissory note to an assignee in full or partial satisfaction of a preexisting indebtedness;(4)(h) a transfer of an interest in or an assignment of a claim under a policy of insurance, other than an assignment by or to a health-care provider of a health-care-insurance receivable and any subsequent assignment of the right to payment, but Sections70A-9a-315 and70A-9a-322 apply with respect to proceeds and priorities in proceeds;(4)(i) an assignment of a right represented by a judgment, other than a judgment taken on a right to payment that was collateral;(4)(j) a right of recoupment or set-off, but:(4)(j)(i) Section70A-9a-340 applies with respect to the effectiveness of rights of recoupment or set-off against deposit accounts; and(4)(j)(ii) Section70A-9a-404 applies with respect to defenses or claims of an account debtor;(4)(k) the creation or transfer of an interest in or lien on real property, including a lease or rents thereunder, except to the extent that provision is made for:(4)(k)(i) liens on real property in Sections70A-9a-203 and70A-9a-308 ;(4)(k)(ii) fixtures in Section70A-9a-334 ;(4)(k)(iii) fixture filings in Sections70A-9a-501 ,70A-9a-502 ,70A-9a-512 ,70A-9a-516 , and70A-9a-519 ; and(4)(k)(iv) security agreements covering personal and real property in Section70A-9a-604 ;(4)(l) an assignment of a claim arising in tort, other than a commercial tort claim, but Sections70A-9a-315 and70A-9a-322 apply with respect to proceeds and priorities in proceeds;(4)(m) an assignment of a deposit account in a consumer transaction, but Sections70A-9a-315 and70A-9a-322 apply with respect to proceeds and priorities in proceeds;(4)(n) an assignment of a claim or right to receive compensation for injuries or sickness as described in 26 U.S.C. § 104(a)(1) or (2); or(4)(o) an assignment of a claim or right to receive benefits under a special needs trust as described in 42 U.S.C. § 1396p(d)(4).(5) Notwithstanding anything to the contrary in this section, Subsections(4)(n) and(o) shall only be effective to security interests created on or after May 6, 2002.