70A-9a-201. General effectiveness of security agreement.

172 words·~1 min read·/ut/title-70a/chapter-9a/70a-9a-201

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Except as otherwise provided in this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.

(2)A transaction subject to this chapter is subject to:

(a)any applicable rule of law which establishes a different rule for consumers; and

(b)Title 70C, Utah Consumer Credit Code .

(3)In case of conflict between this chapter and a rule of law, statute, or regulation described in Subsection

(2), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in Subsection

(2)has only the effect the statute or regulation specifies.

(4)This chapter does not:

(a)validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in Subsection

(2); or

(b)extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.

Enacted by Chapter 252 , 2000 General Session