Utah Statutes
§ 70A-9a-617 — Rights of transferee of collateral.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-9a Uniform Commercial Code - Secured Transactions·Part 70A-9a-6 Default
(1)A secured party's disposition of collateral after default:
(1)(a) transfers to a transferee for value all of the debtor's rights in the collateral;
(1)(b) discharges the security interest under which the disposition is made; and
(1)(c) discharges any subordinate security interest or other subordinate lien.
(2)A transferee that acts in good faith takes free of the rights and interests described in Subsection (1), even if the secured party fails to comply with this chapter or the requirements of any judicial proceeding.
(3)If a transferee does not take free of the rights and interests described in Subsection (1), the transferee takes the collateral subject to:
(3)(a) the debtor's rights in the collateral;
(3)(b) the security interest or agricultural lien under which the disposition i
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Utah § 70A-9a-617 (Rights of transferee of collateral.) — 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Laws not repealed.§ 70A-1a-101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.