70A-9a-509 - Persons entitled to file a record. - Utah Statutes

70A-9a-509. Persons entitled to file a record.
(1) A person may file an initial financing statement, amendment that adds collateralcovered by a financing statement, or amendment that adds a debtor to a financing statement onlyif:
(a) the debtor authorizes the filing in an authenticated record or pursuant to Subsection (2)or (3); or
(b) the person holds an agricultural lien that has become effective at the time of filing andthe financing statement covers only collateral in which the person holds an agricultural lien.
(2) By authenticating or becoming bound as debtor by a security agreement, a debtor ornew debtor authorizes the filing of an initial financing statement, and an amendment, covering:
(a) the collateral described in the security agreement; and
(b) property that becomes collateral under Subsection 70A-9a-315(1)(b), whether or notthe security agreement expressly covers proceeds.
(3) By acquiring collateral in which a security interest or agricultural lien continues underSubsection 70A-9a-315(1)(a), a debtor authorizes the filing of an initial financing statement, andan amendment, covering the collateral and property that becomes collateral under Subsection70A-9a-315(1)(b).
(4) A person may file an amendment other than an amendment that adds collateralcovered by a financing statement or an amendment that adds a debtor to a financing statementonly if:
(a) the secured party of record authorizes the filing; or
(b) the amendment is a termination statement for a financing statement as to which thesecured party of record has failed to file or send a termination statement as required bySubsection 70A-9a-513(1) or (3), the debtor authorizes the filing, and the termination statementindicates that the debtor authorized it to be filed.
(5) If there is more than one secured party of record for a financing statement, eachsecured party of record may authorize the filing of an amendment under Subsection (4).

Enacted by Chapter 252, 2000 General Session