Utah Administrative Code
Topic - Commerce
Title R154 - Corporations and Commercial Code
Rule R154-2 - Utah Uniform Commercial Code, Revised Article 9 Rules
Section R154-2-100 - Definitions

Universal Citation: UT Admin Code R 154-2-100

Current through Bulletin 2024-18, September 15, 2024

(1) Terms used this rule that are defined in the UCC and not otherwise defined in this section shall have the respective meanings given the terms in the UCC.

(2) "Address" means either:

(a) a street address, route number, or PO Box number plus the city, state and zip code; or

(b) an address that purports to be a mailing address outside the United State of America.

(3) "Amendment" means any UCC record filed that relates to the initial financing statement. Amendments include party or collateral changes, assignments, continuations, and terminations.

(4) "Assignment" is an amendment that assigns the whole or a part of a secured party's power to authorize an amendment to a financing statement.

(5) "Filing office" means the Utah Division of Corporations and Commercial Code in the Utah Department of Commerce.

(6) "Filing office statement" means a statement entered into the filing office's UCC information management system to explain an action by the filing office.

(7) "Information statement" means a UCC record that states a financing statement is inaccurate or wrongfully filed.

(8) "Initial financing statement" means a UCC record that causes the filing office to establish the initial record of filing of a financing statement.

(9) "Remitter" means a person who tenders a UCC record to the filing office for filing, whether the person is a filer or an agent of a filer responsible for tendering the record for filing. "Remitter" does not include a person responsible merely for the delivery of the record to the filing office, such as the postal service or a courier service but does include a service provider who acts as a filer's representative in the filing process.

(10) "Searchable indexes" means the searchable index of individual debtor names and the searchable index of organization debtor names the filing office must maintain in the UCC information management system.

(11) "Secured party of record" means any party designated as a secured party in a financing statement, including those for whom an amendment has been filed purporting to delete them as a secured party or purporting to show they have assigned their secured interest, except as provided in Subsection R154-2-306(1).

(12) "UCC" means the Uniform Commercial Code as adopted in Utah.

(13) "UCC information management system" means the information management system used by the filing office to store, index, and retrieve information relating to financing statements as described in Sections R154-2-300 through R154-2-314.

(14) "UCC record" means an initial financing statement, an amendment of party or collateral information, an assignment, a continuation statement, a termination statement, a filing office statement or an information statement, and includes a record maintained by the filing office. The term shall not be considered to refer exclusively to paper or paper- based writings.

(15) "Unlapsed record" means a UCC record that has been stored and indexed in the UCC information management system, which has a lapse date that has not yet occurred.

Disclaimer: These regulations may not be the most recent version. Utah may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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