Utah § 75B-2-514 Secured claims.

Utah Statutes

§ 75B-2-514 — Secured claims.

Utah § 75B-2-514

Title 75BTrusts

Ch. 75B-2Uniform Trust Code

Part 75B-2-5Spendthrift and Discretionary Trusts

This text of Utah § 75B-2-514 (Secured claims.) 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. § 75B-2-514 (2026).

Text

Payment of a secured claim shall be upon the basis of the amount allowed if the creditor surrenders the creditor's security, but otherwise payment shall be based upon one of the following:

(1)if the creditor exhausts the creditor's security before receiving payment, unless precluded by another provision of the law, upon the amount of the claim allowed less the fair value of the security; or

(2)if the creditor does not have the right to exhaust the creditor's security or has not done so, upon the amount of the claim allowed less the value of the security determined by converting the security into money according to the terms of the agreement pursuant to which the security was delivered to the creditor, or by the creditor and trustee by agreement, arbitration, compromise, or litigation.

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Payment of a secured claim shall be upon the basis of the amount allowed if the creditor surrenders the creditor's security, but otherwise payment shall be based upon one of the following:
(1) if the creditor exhausts the creditor's security before receiving payment, unless precluded by another provision of the law, upon the amount of the claim allowed less the fair value of the security; or
(2) if the creditor does not have the right to exhaust the creditor's security or has not done so, upon the amount of the claim allowed less the value of the security determined by converting the security into money according to the terms of the agreement pursuant to which the security was delivered to the creditor, or by the creditor and trustee by agreement, arbitration, compromise, or litigation.