State Codes and Statutes
Statutes > Utah > Title-70a > Chapter-09a > 70a-9a-21070A-9a-210. Request for accounting -- Request regarding list of collateral orstatement of account.
(1) In this section:
(a) "Request" means a record of a type described in Subsection (1)(b), (c), or (d).
(b) "Request for an accounting" means a record authenticated by a debtor requesting thatthe recipient provide an accounting of the unpaid obligations secured by collateral and reasonablyidentifying the transaction or relationship that is the subject of the request.
(c) "Request regarding a list of collateral" means a record authenticated by a debtorrequesting that the recipient approve or correct a list of what the debtor believes to be thecollateral securing an obligation and reasonably identifying the transaction or relationship that isthe subject of the request.
(d) "Request regarding a statement of account" means a record authenticated by a debtorrequesting that the recipient approve or correct a statement indicating what the debtor believes tobe the aggregate amount of unpaid obligations secured by collateral as of a specified date andreasonably identifying the transaction or relationship that is the subject of the request.
(2) Subject to Subsections (3), (4), (5), and (6), a secured party, other than a buyer ofaccounts, chattel paper, payment intangibles, or promissory notes or a consignor, shall complywith a request within 14 days after receipt:
(a) in the case of a request for an accounting, by authenticating and sending to the debtoran accounting; and
(b) in the case of a request regarding a list of collateral or a request regarding a statementof account, by authenticating and sending to the debtor an approval or correction.
(3) A secured party that claims a security interest in all of a particular type of collateralowned by the debtor may comply with a request regarding a list of collateral by sending to thedebtor an authenticated record including a statement to that effect within 14 days after receipt.
(4) A person that receives a request regarding a list of collateral, claims no interest in thecollateral when it receives the request, and claimed an interest in the collateral at an earlier timeshall comply with the request within 14 days after receipt by sending to the debtor anauthenticated record:
(a) disclaiming any interest in the collateral; and
(b) if known to the recipient, providing the name and mailing address of any assignee ofor successor to the recipient's interest in the collateral.
(5) A person that receives a request for an accounting or a request regarding a statementof account, claims no interest in the obligations when it receives the request, and claimed aninterest in the obligations at an earlier time shall comply with the request within 14 days afterreceipt by sending to the debtor an authenticated record:
(a) disclaiming any interest in the obligations; and
(b) if known to the recipient, providing the name and mailing address of any assignee ofor successor to the recipient's interest in the obligations.
(6) A debtor is entitled without charge to one response to a request under this sectionduring any six-month period. The secured party may require payment of a charge not exceeding$25 for each additional response.
Enacted by Chapter 252, 2000 General Session
