# Utah H.B. 382: Uniform Assignment for Benefit of Creditors Amendments Utah H.B. 382, Uniform Assignment for Benefit of Creditors Amendments, is a 2026 General Session House bill sponsored by Jordan D. Teuscher (Republican); status signed, last action 2026-03-23 (Governor Signed) (as of 2026-10-19). - Canonical: https://policyrisk.com/state-bill/UT-HB382-2026GS - As of: 2026-10-19 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Utah H.B. 382 - State: Utah - Session: 2026 General Session - Title: Uniform Assignment for Benefit of Creditors Amendments - Status: signed - Chamber: House - Introduced: 2026-01-26 - Last action: 2026-03-23, Governor Signed - Sponsor: Jordan D. Teuscher (Republican) - Cosponsors: 1 - Subjects: Business, Business Entities, Contracts and Obligations, Legislative Operations, Uniform Laws - Touches household money: no - Roll calls: 5 (136 yes, 2 no in all) - Economic provisions PRIA read: 11 ## Summary No summary available. ## Bill overview: provisions PRIA read - Creditors get safeguards and regular reports: benefit, low. Assignees must act loyally, honestly, and with reasonable care to maximize payments to creditors and finish the estate's work. They must keep funds separate, maintain records, meet tax duties, disclose compensation methods, and report at least every six months. Administration expenses are payable o… - Investment loss claims rank behind creditors: cost, low. Beginning May 6, 2026, claims tied to buying or selling the debtor's or an affiliate's securities face lower payment priority. This covers claims to undo a purchase or sale, damages, and related reimbursement or contribution claims. They rank behind claims or interests otherwise equal or senior to… - Creditors can challenge managers and misconduct: mixed, low. Creditors or debtors can seek court removal for misconduct, incompetence, gross mismanagement, legal violations, or creditors' best interests. A qualified successor takes over; departing managers must transfer assets and records and report receipts and payments. Debtors and assignees are not person… - Creditors get claim reviews and reserves: mixed, low. Properly filed claims must be accepted unless disputed before final payment; unsecured amounts are valued when the assignment starts. Assignees can accept claims received by the deadline without formal proof, or excuse late proof for a reasonable cause. Creditors can request a claim list with priva… - Creditors get notice and filing deadlines: mixed, low. Known creditors must receive notice within 30 days after the assignment takes effect, unless they sign a notice waiver. Assignees must also make reasonable efforts to reach unknown creditors. Creditors must use the stated filing method and a single deadline set 90 to 210 days after the assignment s… - Wages and secured debts get payment priority: mixed, low. Beginning May 6, 2026, protected secured claims are paid first from their collateral, minus reasonable preservation and sale costs. Protection requires a perfected lien the assignee cannot undo that is not junior to the assignee's lien; shortfalls become unsecured. Administration costs and federall… - Asset managers gain powers with limits: mixed, low. Unless the agreement limits them, assignees can operate businesses, borrow, hire professionals, sell or lease assets, settle disputes, and invest prudently. These powers must serve their duties; the law also gives them a lien and specified creditor and property-purchaser rights. They can undo certa… - Cross-state debt assignments reach Utah assets: mixed, low. Utah recognizes out-of-state assignments on issues where the result is substantially similar to Utah law. Other states' amounts help set Utah priority for specified wage and government claims; assignees can also provide another state's creditor treatment. Courts can appoint an eligible out-of-state… - Debtors must turn over assets and records: mixed, low. Debtors and their designated representatives must protect and turn over assigned assets and provide needed records and transfer documents. Verified lists of assets, employees, and known creditors are due when the agreement starts or as soon as practical afterward. Debtors must help obtain required… - Independent managers must oversee debt assignments: mixed, low. An assignee generally cannot be a creditor, insider, affiliate, or someone with a financial stake beyond fees and expenses. Affiliates include relationships based on a 20% voting interest; a noncontrolling stake in a publicly traded debtor is allowed. Prior service to the debtor alone does not disq… - New debt settlement rules for Utah: mixed, low. For assignments made on or after May 6, 2026, Utah replaces its former debt assignment law. This process lets a debtor transfer assets to a manager, called an assignee, to pay creditors outside bankruptcy. It covers individuals whose main home is in Utah and organizations based in Utah or governed… ## Sponsors and cosponsors - Sponsor: Jordan D. Teuscher (Republican), House - Cosponsor: Michael K. McKell (Republican), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-02-27 | Senate | Senate/ passed 3rd reading | pass | 27 | 0 | | | 2026-02-26 | Senate | Senate/ passed 2nd reading | pass | 26 | 0 | | | 2026-02-24 | Senate | Senate Comm - Favorable Recommendation | pass | 6 | 0 | | | 2026-02-18 | House | House/ passed 3rd reading | pass | 69 | 1 | | | 2026-02-09 | House | House Comm - Favorable Recommendation | pass | 8 | 1 | | ## Actions (32) - 2026-03-23: Governor Signed - 2026-03-12: House/ to Governor (House) - 2026-03-12: House/ received enrolled bill from Printing (House) - 2026-03-05: House/ enrolled bill to Printing (House) - 2026-03-05: Enrolled Bill Returned to House or Senate - 2026-03-03: Draft of Enrolled Bill Prepared - 2026-03-03: Bill Received from House for Enrolling - 2026-02-27: House/ signed by Speaker/ sent for enrolling (House) - 2026-02-27: House/ received from Senate (House) - 2026-02-27: Senate/ to House (Senate) - 2026-02-27: Senate/ signed by President/ returned to House (Senate) - 2026-02-27: Senate/ passed 3rd reading (Senate) - 2026-02-27: Senate/ 3rd reading (Senate) - 2026-02-26: Senate/ passed 2nd reading (Senate) - 2026-02-26: Senate/ 2nd reading (Senate) - 2026-02-25: Senate/ placed on 2nd Reading Calendar (Senate) - 2026-02-25: Senate/ committee report favorable (Senate) - 2026-02-24: Senate Comm - Favorable Recommendation - 2026-02-20: Senate/ to standing committee (Senate) - 2026-02-19: Senate/ 1st reading (Introduced) (Senate) - 2026-02-18: Senate/ received from House (Senate) - 2026-02-18: House/ to Senate (House) - 2026-02-18: House/ passed 3rd reading (House) - 2026-02-18: House/ 3rd reading (House) - 2026-02-10: House/ 2nd reading (House) - 2026-02-10: House/ committee report favorable (House) - 2026-02-09: House Comm - Favorable Recommendation - 2026-02-06: House/ to standing committee (House) - 2026-01-28: House/ received fiscal note from Fiscal Analyst (House) - 2026-01-27: House/ 1st reading (Introduced) (House) - 2026-01-27: House/ received bill from Legislative Research (House) - 2026-01-26: Numbered Bill Publicly Distributed ## Bill text - Enrolled, 2026-03-05: [PDF](https://le.utah.gov/Session/2026/bills/enrolled/HB0382.pdf) - Introduced, 2026-01-26: [PDF](https://le.utah.gov/Session/2026/bills/introduced/HB0382.pdf) ## Related bills - H.B. 136: Unlicensed Driver Amendments (signed) - H.B. 101: Firearm Background Check Amendments (signed) - H.B. 134: Offender Transfer Amendments (signed) - H.B. 178: School Zone Speeding Amendments (signed) - H.B. 94: Criminal Accounts Receivable Amendments (signed) - H.B. 220: Public Safety Data Amendments (signed) ## Sources - [Enrolled (PDF)](https://le.utah.gov/Session/2026/bills/enrolled/HB0382.pdf) - [Introduced (PDF)](https://le.utah.gov/Session/2026/bills/introduced/HB0382.pdf) ## Related - [H.B. 136: Unlicensed Driver Amendments](https://policyrisk.com/state-bill/UT-HB136-2026GS) - [H.B. 101: Firearm Background Check Amendments](https://policyrisk.com/state-bill/UT-HB101-2026GS) - [H.B. 134: Offender Transfer Amendments](https://policyrisk.com/state-bill/UT-HB134-2026GS) - [H.B. 178: School Zone Speeding Amendments](https://policyrisk.com/state-bill/UT-HB178-2026GS) - [H.B. 94: Criminal Accounts Receivable Amendments](https://policyrisk.com/state-bill/UT-HB94-2026GS) - [H.B. 220: Public Safety Data Amendments](https://policyrisk.com/state-bill/UT-HB220-2026GS) - [Utah bills](https://policyrisk.com/states/utah/bills) - [Utah state hub](https://policyrisk.com/states/utah) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/UT-HB382-2026GS (as of 2026-10-19).