| (1) |
Except as otherwise provided in Subsection (2) and Subsection 70A-9a-312(2), a financing statement must be filed to perfect all security interests and agricultural liens. |
Terms Used In Utah Code 70A-9a-310
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- Statute: A law passed by a legislature.
| (2) |
The filing of a financing statement is not necessary to perfect a security interest:
| (b) |
that is perfected under Section 70A-9a-309 when it attaches; |
| (c) |
in property subject to a statute, regulation, or treaty described in Subsection 70A-9a-311(1); |
| (d) |
in goods in possession of a bailee which is perfected under Subsection 70A-9a-312(4)(a) or (b); |
| (e) |
in certificated securities, documents, goods, or instruments which is perfected without filing, control, or possession under Subsection 70A-9a-312(5), (6), or (7); |
| (f) |
in collateral in the secured party’s possession under Section 70A-9a-313; |
| (g) |
in a certificated security which is perfected by delivery of the security certificate to the secured party under Section 70A-9a-313; |
| (h) |
in deposit accounts, electronic chattel paper, electronic documents, investment property, or letter-of-credit rights which is perfected by control under Section 70A-9a-314; |
| (i) |
in proceeds which is perfected under Section 70A-9a-315; or |
|
| (3) |
If a secured party assigns a perfected security interest or agricultural lien, a filing under this chapter is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor. |
Amended by Chapter 42, 2006 General Session
