Utah Code 70A-9a-110. Security interests arising under Chapter 2 or 2a
Current as of: 2023 | Check for updates
|
Other versions
A security interest arising under Section 70A-2-401 or 70A-2-505, or Subsection 70A-2-711(3) or 70A-2a-508(5) is subject to this chapter. However, until the debtor obtains possession of the goods:
(1) | the security interest is enforceable, even if Subsection 70A-9a-203(2)(c) has not been satisfied; |
(2) | filing is not required to perfect the security interest; |
(3) | the rights of the secured party after default by the debtor are governed by Chapter 2, Uniform Commercial Code – Sales or Chapter 2a, Uniform Commercial Code – Leases; and |
(4) | the security interest has priority over a conflicting security interest created by the debtor. |
Enacted by Chapter 252, 2000 General Session