Utah Statutes
§ 70A-9a-209 — Duties of secured party if account debtor has been notified of assignment.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-9a Uniform Commercial Code - Secured Transactions·Part 70A-9a-2 Effectiveness of Security Agreement - Attachment of Security Interest - Rights of Parties to Security Agreement
(1)Except as otherwise provided in Subsection (3), this section applies if:
(1)(a) there is no outstanding secured obligation; and
(1)(b) the secured party is not committed to make advances, incur obligations, or otherwise give value.
(2)Within 10 days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under Subsection 70A-9a-406(1) an authenticated record that releases the account debtor from any further obligation to the secured party.
(3)This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.
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Utah § 70A-9a-209 (Duties of secured party if account debtor has been notified of assignment.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 252, 2000 General Session
Nearby Sections
15
§ 70A-10-101
Effective date.§ 70A-10-102
Specific repealer -- Provision for transition.§ 70A-10-103
General repealer.§ 70A-10-104
Laws not repealed.§ 70A-1a-101
Title.§ 70A-1a-102
Scope of chapter.§ 70A-1a-104
Construction against implied repeal.§ 70A-1a-105
Severability.§ 70A-1a-106
Use of singular and plural -- Gender.§ 70A-1a-107
Section captions.§ 70A-1a-201
General definitions.§ 70A-1a-202
Notice -- Knowledge.§ 70A-1a-203
Lease distinguished from security interest.