Utah Administrative Code
Topic - Commerce
Title R154 - Corporations and Commercial Code
Rule R154-2 - Utah Uniform Commercial Code, Revised Article 9 Rules
Section R154-2-307 - Amendments Generally
Universal Citation: UT Admin Code R 154-2-307
Current through Bulletin 2024-18, September 15, 2024
(1) Upon the filing of an amendment the status of the parties shall be unchanged, except that:
(a) When an amendment adds a debtor or
a secured party, the new debtor or secured party shall be added to appropriate
index and associated with the record of the financing statement in the UCC
information management system; and
(b) An amendment that designates an assignee
shall cause the assignee to be added as a secured party of record with respect
to the affected financing statement in the UCC information management
system.
(2)
(a) Notwithstanding the filing of an
amendment that deletes a debtor or a secured party from a financing statement,
no debtor or secured party of record is deleted from the UCC information
management system.
(b) A deleted
secured party will still be treated by the filing office as a secured party of
record as the filing office cannot verify the effectiveness of an
amendment.
(3) Except when a continuation statement, the filing of an amendment does not affect the status of the financing statement.
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