Utah Code 78B-21-109. Status of receiver as lien creditor
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On appointment of a receiver, the receiver has the status of a lien creditor under:
(1) Title 70A, Chapter 9a, Uniform Commercial Code – Secured Transactions, as to receivership property that is personal property or fixtures; and
Terms Used In Utah Code 78B-21-109
- Property: means all of a person's right, title, and interest, both legal and equitable, in real and personal property, tangible and intangible, wherever located and however acquired. See Utah Code 78B-21-102
- Receiver: means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this chapter or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property. See Utah Code 78B-21-102
- Receivership: means a proceeding in which a receiver is appointed. See Utah Code 78B-21-102
- Receivership property: means the property of an owner that is described in the order appointing a receiver or a subsequent order. See Utah Code 78B-21-102
- Record: means , when used as a noun, information that is inscribed on a tangible medium or that is stored on an electronic or other medium and is retrievable in perceivable form. See Utah Code 78B-21-102
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
(2) Title 57, Chapter 9, Marketable Record Title, as to receivership property that is real property.