Utah § 70A-9a-515 Duration and effectiveness of financing statement -- Effect of lapsed financing statement.

Utah Statutes

§ 70A-9a-515 — Duration and effectiveness of financing statement -- Effect of lapsed financing statement.

Utah § 70A-9a-515

Title 70AUniform Commercial Code

Ch. 70A-9aUniform Commercial Code - Secured Transactions

Part 70A-9a-5Filing

This text of Utah § 70A-9a-515 (Duration and effectiveness of financing statement -- Effect of lapsed financing statement.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 70A-9a-515 (2026).

Text

(1)Except as otherwise provided in Subsections (2), (5), (6), and (7), a filed financing statement is effective for a period of five years after the date of filing.

(2)Except as otherwise provided in Subsections (5), (6), and (7), an initial financing statement filed in connection with a public-finance transaction or manufactured-home transaction is effective for a period of 30 years after the date of filing if it indicates that it is filed in connection with a public-finance transaction or manufactured-home transaction.

(3)The effectiveness of a filed financing statement lapses on the expiration of the period of its effectiveness unless before the lapse a continuation statement is filed pursuant to Subsection (4). Upon lapse, a financing statement ceases to be effective and any securi

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(1) Except as otherwise provided in Subsections (2), (5), (6), and (7), a filed financing statement is effective for a period of five years after the date of filing.
(2) Except as otherwise provided in Subsections (5), (6), and (7), an initial financing statement filed in connection with a public-finance transaction or manufactured-home transaction is effective for a period of 30 years after the date of filing if it indicates that it is filed in connection with a public-finance transaction or manufactured-home transaction.
(3) The effectiveness of a filed financing statement lapses on the expiration of the period of its effectiveness unless before the lapse a continuation statement is filed pursuant to Subsection (4). Upon lapse, a financing statement ceases to be effective and any security interest or agricultural lien that was perfected by the financing statement becomes unperfected, unless the security interest is perfected otherwise. If the security interest or agricultural lien becomes unperfected upon lapse, it is deemed never to have been perfected as against a purchaser of the collateral for value.
(4) A continuation statement may be filed only within six months before the expiration of the five-year period specified in Subsection (1) or the 30-year period specified in Subsection (2), whichever is applicable.
(5) Except as otherwise provided in Section 70A-9a-510, upon timely filing of a continuation statement, the effectiveness of the initial financing statement continues for a period of five years commencing on the day on which the financing statement would have become ineffective in the absence of the filing. Upon the expiration of the five-year period, the financing statement lapses in the same manner as provided in Subsection (3), unless, before the lapse, another continuation statement is filed pursuant to Subsection (4). Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement.
(6) If a debtor is a transmitting utility and a filed initial financing statement so indicates, the financing statement is effective until a termination statement is filed.
(7) A record of a mortgage that is effective as a financing statement filed as a fixture filing under Subsection 70A-9a-502(3) remains effective as a financing statement filed as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property.