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Terms Used In Utah Code 70A-8-209

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Security: except as otherwise provided in Section 70A-8-102, means an obligation of an issuer or a share, participation, or other interest in an issuer or in property or an enterprise of an issuer that:
              (1)(p)(i) is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;
              (1)(p)(ii) is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests, or obligations; and
              (1)(p)(iii)
                   (1)(p)(iii)(A) is, or is of a type, dealt in or traded on securities exchanges or securities markets; or
                   (1)(p)(iii)(B) is a medium for investment and by its terms expressly provides that it is a security governed by this chapter. See Utah Code 70A-8-101
  • Security certificate: means a certificate representing a security. See Utah Code 70A-8-101

     A lien in favor of an issuer upon a certificated security is valid against a purchaser only if the right of the issuer to the lien is noted conspicuously on the security certificate.