Title 70A - Uniform Commercial Code - Chapter 9a - Uniform Commercial Code - Secured Transactions - Part 3 - Perfection and Priority - Section 307 - Location of debtor.

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.

Utah Code

Page 1

70A-9a-307 Location of debtor. (1) In this section, "place of business" means a place where a debtor conducts its affairs. (2) Except as otherwise provided in this section, the following rules determine a debtor's location:

(a) A debtor who is an individual is located at the individual's principal residence. (b) A debtor that is an organization and has only one place of business is located at its place of

business. (c) A debtor that is an organization and has more than one place of business is located at its

chief executive office. (3) Subsection (2) applies only if a debtor's residence, place of business, or chief executive office,

as applicable, is located in a jurisdiction whose law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing, recording, or registration system as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral. If Subsection (2) does not apply, the debtor is located in the District of Columbia.

(4) A person that ceases to exist, have a residence, or have a place of business continues to be located in the jurisdiction specified by Subsections (2) and (3).

(5) A registered organization that is organized under the law of a state is located in that state. (6) Except as otherwise provided in Subsection (9), a registered organization that is organized

under the law of the United States and a branch or agency of a bank that is not organized under the law of the United States or a state are located:

(a) in the state that the law of the United States designates, if the law designates a state of location;

(b) in the state that the registered organization, branch, or agency designates, if the law of the United States authorizes the registered organization, branch, or agency to designate its state of location, including by designating its main office, home office, or other comparable office; or

(c) in the District of Columbia, if neither Subsection (6)(a) nor Subsection (6)(b) applies. (7) A registered organization continues to be located in the jurisdiction specified by Subsection (5)

or (6) notwithstanding: (a) the suspension, revocation, forfeiture, or lapse of the registered organization's status as such

in its jurisdiction of organization; or (b) the dissolution, winding up, or cancellation of the existence of the registered organization.

(8) The United States is located in the District of Columbia. (9) A branch or agency of a bank that is not organized under the law of the United States or a state

is located in the state in which the branch or agency is licensed, if all branches and agencies of the bank are licensed in only one state.

(10) A foreign air carrier under the Federal Aviation Act of 1958, as amended, is located at the designated office of the agent upon which service of process may be made on behalf of the carrier.

(11) This section applies only for purposes of this part.

Amended by Chapter 225, 2013 General Session