State Codes and Statutes

Statutes > Utah > Title-70a > Chapter-09a > 70a-9a-625

70A-9a-625. Remedies for secured party's failure to comply with chapter.
(1) If it is established that a secured party is not proceeding in accordance with thischapter, a court may order or restrain collection, enforcement, or disposition of collateral onappropriate terms and conditions.
(2) Subject to Subsections (3), (4), and (5), a person is liable for damages in the amountof any loss caused by a failure to comply with this chapter. Loss caused by a failure to complymay include loss resulting from the debtor's inability to obtain, or increased costs of, alternativefinancing.
(3) Except as otherwise provided in Section 70A-9a-628:
(a) a person that, at the time of the failure, was a debtor, was an obligor, or held asecurity interest in or other lien on the collateral may recover damages under Subsection (2) forits loss; and
(b) if the collateral is consumer goods, a person that was a debtor or a secondary obligorat the time a secured party failed to comply with this part may recover for that failure in any eventan amount not less than the credit service charge plus 10% of the principal amount of theobligation or the time-price differential plus 10% of the cash price.
(4) A debtor whose deficiency is eliminated under Section 70A-9a-626 may recoverdamages for the loss of any surplus. However, a debtor or secondary obligor whose deficiency iseliminated or reduced under Section 70A-9a-626 may not otherwise recover under Subsection (2)for noncompliance with the provisions of this part relating to collection, enforcement, disposition,or acceptance.
(5) In addition to any damages recoverable under Subsection (2), the debtor, consumerobligor, or person named as a debtor in a filed record, as applicable, may recover $500 in eachcase from a person that:
(a) fails to comply with Section 70A-9a-208;
(b) fails to comply with Section 70A-9a-209;
(c) files a record that the person is not entitled to file under Subsection 70A-9a-509(1);
(d) fails to cause the secured party of record to file or send a termination statement asrequired by Subsection 70A-9a-513(1) or (3);
(e) fails to comply with Subsection 70A-9a-616(2)(a) and whose failure is part of apattern, or consistent with a practice, of noncompliance; or
(f) fails to comply with Subsection 70A-9a-616(2)(b).
(6) A debtor or consumer obligor may recover damages under Subsection (2) and, inaddition, $500 in each case from a person that, without reasonable cause, fails to comply with arequest under Section 70A-9a-210. A recipient of a request under Section 70A-9a-210 whichnever claimed an interest in the collateral or obligations that are the subject of a request under thatsection has a reasonable excuse for failure to comply with the request within the meaning of thisSubsection (6).
(7) If a secured party fails to comply with a request regarding a list of collateral or astatement of account under Section 70A-9a-210, the secured party may claim a security interestonly as shown in the list or statement included in the request as against a person that is reasonablymisled by the failure.

Enacted by Chapter 252, 2000 General Session