Utah – Enacts the 2010 Amendments to UCC Article 9

March 29, 2013

Utah enacted the 2010 Amendments to UCC Article 9 when the governor signed Senate Bill 41 on March 27, 2013.   As originally introduced, SB 41 provided the Alternative B safe harbor for sufficiency of individual names in § 9-503(a)(4).  However, the bill was amended to Alternative A during the legislative process.  

As enacted, SB 41 provides the Alternative A “Only If” rule for sufficiency of individual names in § 9-503(a)(4) adopts Alternative A,  incorporates by reference in § 9-521 the safe harbor forms set forth in the official text of the 2010 Amendments and takes effect on July 1, 2013.

Those who prepare and file UCC records should be aware that a non-uniform provision of Utah Code Ann. Section 70A-9a-516(4) will allow the filing office to reject a UCC record submitted with the debtor’s driver’s license number or state ID card number.  Only the debtor name indicated on the license or ID is relevant for filing purposes.  Not a single state that has enacted the 2010 Amendments will require UCC records to provide the debtor’s driver’s license or ID number. 

Additional resources on the 2010 Amendments to UCC Article 9, including legislative status charts, are available at http://csctransactionwatch.com/amendments/.
 
If you have questions or need more information on Article 9 legislation, please contact Paul Hodnefield, Associate General Counsel, at phodnefi@cscinfo.com or 800-927-9801, ext. 62375.

 

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