70A-9a-514 - Assignment of powers of secured party of record. - Utah Statutes

70A-9a-514. Assignment of powers of secured party of record.
(1) Except as otherwise provided in Subsection (3), an initial financing statement mayreflect an assignment of all of the secured party's power to authorize an amendment to thefinancing statement by providing the name and mailing address of the assignee as the name andaddress of the secured party.
(2) Except as otherwise provided in Subsection (3), a secured party of record may assignof record all or part of its power to authorize an amendment to a financing statement by filing inthe filing office an amendment of the financing statement which:
(a) identifies, by its file number, the initial financing statement to which it relates;
(b) provides the name of the assignor; and
(c) provides the name and mailing address of the assignee.
(3) An assignment of record of a security interest in a fixture covered by a record of amortgage which is effective as a financing statement filed as a fixture filing under Subsection70A-9a-502(3) may be made only by an assignment of record of the mortgage in the mannerprovided by law of this state other than this title.

Enacted by Chapter 252, 2000 General Session