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Transitional Provisions For Chapter 9a, Uniform Commercial Code - Secured Transactions And Chapter 12, Uniform Commercial Code - Controllable Electronic Records

Utah Code tit. 70A, ch. 70A-12a, pt. 70A-12a-P3
in effect

Utah Code § 70A-12a-301 Saving clause.

70A-12a-301. Saving clause. (1) Except as provided in this part, Chapter 9a, Uniform Commercial Code - Secured Transactions, as amended by this chapter and Chapter 12, Uniform Commercial Code - Controllable Electronic Records, apply to a transaction, lien, or other interest in property, even if the transaction, lien, or interest was entered into, created, or acquired before May 6, 2026. (2) Except as provided in Subsection (3) and Sections 70A-12a-302 through 306: (a) a transaction, lien, or interest in property that was validly entered into, created, or transferred before May 6, 2026, and was not governed by this title, but would be subject to Chapter 9a, Uniform Commercial Code - Secured Transactions, as amended by this chapter or Chapter 12, Uniform Commercial Code - Controllable Electronic Records, if it had been entered into, created, or transferred on or after May 6, 2026, including the rights, duties, and interests flowing from the transaction, lien, or interest, remains valid on and after May 6, 2026; and (b) the transaction, lien, or interest may be terminated, completed, consummated, and enforced as required or permitted by this chapter or by the law that would apply if this chapter had not taken effect. (3) This chapter does not affect an action, case, or proceeding commenced before May 6, 2026. Enacted by Chapter 322, 2026 General Session

Utah Code § 70A-12a-302 Security interest perfected before effective date.

70A-12a-302. Security interest perfected before effective date. (1) A security interest that is enforceable and perfected immediately before May 6, 2026, is a perfected security interest under this chapter if, on May 6, 2026, the requirements for enforceability and perfection under this chapter are satisfied without further action. (2) If a security interest is enforceable and perfected immediately before May 6, 2026, but the requirements for enforceability or perfection under this chapter are not satisfied on May 6, 2026, the security interest: (a) is a perfected security interest until the earlier of the time perfection would have ceased under the law in effect immediately before May 6, 2026 or the adjustment date; (b) remains enforceable thereafter only if the security interest satisfies the requirements for enforceability under Section 70A-9a-203, as amended by this chapter, before the adjustment date; and (c) remains perfected thereafter only if the requirements for perfection under this chapter are satisfied before the time specified in Subsection (2)(a). Enacted by Chapter 322, 2026 General Session

Utah Code § 70A-12a-303 Security interest unperfected before effective date.

70A-12a-303. Security interest unperfected before effective date. A security interest that is enforceable immediately before May 6, 2026, but is unperfected at that time: (1) remains an enforceable security interest until the adjustment date; (2) remains enforceable thereafter if the security interest becomes enforceable under Section 70A-9a-203, as amended by this chapter, on May 6, 2026, or before the adjustment date; and (3) becomes perfected: (a) without further action, on May 6, 2026, if the requirements for perfection under this chapter are satisfied before or at that time; or (b) when the requirements for perfection are satisfied if the requirements are satisfied after that time. Enacted by Chapter 322, 2026 General Session

Utah Code § 70A-12a-304 Effectiveness of actions taken before effective date.

70A-12a-304. Effectiveness of actions taken before effective date. (1) If action, other than the filing of a financing statement, is taken before May 6, 2026, and the action would have resulted in perfection of the security interest had the security interest become enforceable before May 6, 2026, the action is effective to perfect a security interest that attaches under this chapter before the adjustment date. An attached security interest becomes unperfected on the adjustment date unless the security interest becomes a perfected security interest under this chapter before the adjustment date. (2) The filing of a financing statement before May 6, 2026, is effective to perfect a security interest on May 6, 2026, to the extent the filing would satisfy the requirements for perfection under this chapter. (3) The taking of an action before May 6, 2026, is sufficient for the enforceability of a security interest on May 6, 2026, if the action would satisfy the requirements for enforceability under this chapter. Enacted by Chapter 322, 2026 General Session

Utah Code § 70A-12a-305 Priority.

70A-12a-305. Priority. (1) Subject to Subsections (2) and (3), this chapter determines the priority of conflicting claims to collateral. (2) Subject to Subsection (3), if the priorities of claims to collateral were established before May 6, 2026, Chapter 9a, Uniform Commercial Code - Secured Transactions, as in effect before May 6, 2026, determines priority. (3) On the adjustment date, to the extent the priorities determined by Chapter 9a, Uniform Commercial Code - Secured Transactions, as amended by this chapter modify the priorities established before May 6, 2026, the priorities of claims to Article 12 property and electronic money established before May 6, 2026, cease to apply. Enacted by Chapter 322, 2026 General Session

Utah Code § 70A-12a-306 Priority of claims when priority rules of Chapter 9a, Uniform Commercial Code - Secured Transactions, do not apply.

70A-12a-306. Priority of claims when priority rules of Chapter 9a, Uniform Commercial Code - Secured Transactions, do not apply. (1) Subject to Subsections (2) and (3), Chapter 12, Uniform Commercial Code - Controllable Electronic Records, determines the priority of conflicting claims to Article 12 property when the priority rules of Chapter 9a, Uniform Commercial Code - Secured Transactions, as amended by this chapter do not apply. (2) Subject to Subsection (3), when the priority rules of Chapter 9a, Uniform Commercial Code - Secured Transactions, as amended by this chapter do not apply and the priorities of claims to Article 12 property were established before May 6, 2026, law other than Chapter 12, Uniform Commercial Code - Controllable Electronic Records, determines priority. (3) When the priority rules of Chapter 9a, Uniform Commercial Code - Secured Transactions, as amended by this chapter do not apply, to the extent the priorities determined by this chapter modify the priorities established before May 6, 2026, the priorities of claims to Article 12 property established before May 6, 2026, cease to apply on the adjustment date. Enacted by Chapter 322, 2026 General Session
Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title70A/Chapter12A/70A-12a-P3.html?v=C70A-12a-P3_2026050620260506Fetched: 10/26/2026

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