| (1) |
Except as otherwise provided in Subsection (2), if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is:
Terms Used In Utah Code 70A-9a-501- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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
| (a) |
the office designated for the filing or recording of a record of a mortgage on the related real property, if:
| (i) |
the collateral is as-extracted collateral or timber to be cut; or |
| (ii) |
the financing statement is filed as a fixture filing and the collateral is goods that are or are to become fixtures; or |
|
| (b) |
the Division of Corporations and Commercial Code, in all other cases, including a case in which the collateral is goods that are or are to become fixtures and the financing statement is not filed as a fixture filing. |
|
| (2) |
The office in which to file a financing statement to perfect a security interest in collateral, including fixtures, of a transmitting utility is the Division of Corporations and Commercial Code. The financing statement also constitutes a fixture filing as to the collateral indicated in the financing statement which is or is to become fixtures. |
Enacted by Chapter 252, 2000 General Session
