# Utah H.B. 474: Uniform Commercial Code Modifications Utah H.B. 474, Uniform Commercial Code Modifications, is a 2026 General Session House bill sponsored by Anthony E. Loubet (Republican); status signed, last action 2026-03-23 (Governor Signed); PRIA reads it as touching household money (as of 2026-10-14). - Canonical: https://policyrisk.com/state-bill/UT-HB474-2026GS - As of: 2026-10-14 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Utah H.B. 474 - State: Utah - Session: 2026 General Session - Title: Uniform Commercial Code Modifications - Status: signed - Chamber: House - Introduced: 2026-02-03 - Last action: 2026-03-23, Governor Signed - Sponsor: Anthony E. Loubet (Republican) - Cosponsors: 1 - Subjects: Business, Commerce and Trade, Contracts and Obligations - Touches household money: yes - Roll calls: 7 (117 yes, 1 no in all) - Economic provisions PRIA read: 30 ## Summary No summary available. ## Bill overview: provisions PRIA read - Buyers and money recipients gain lien protections: benefit, low. Buyers taking delivery of covered goods, papers, or security certificates before a creditor perfects its claim can avoid that claim. They must give value and receive delivery without knowing about the security claim or agricultural lien. Buyers and lessees also gain protection against advances made… - Consumer protections still apply to electronic assets: benefit, low. Beginning May 6, 2026, transactions covered by Utah's controllable electronic records law still follow applicable consumer protection rules. The Utah Consumer Credit Code also applies. When the electronic-records law conflicts with Utah's rules for loans backed by collateral, the collateral rules c… - Creditors must sign collateral sale notices: benefit, low. Creditors selling covered collateral must send reasonable signed notices. A claimant seeking notice through the specified claim-of-interest rule must also submit a signed notice. Sale notices are not required for perishable collateral, collateral quickly losing value, or collateral customarily sold… - Debtors get records and collateral releases: benefit, low. Beginning May 6, 2026, covered creditors must answer signed requests for debt accountings or collateral lists within 14 days. Debtors get one free response every six months; extra responses cost up to $25. After secured obligations end and further lending commitments stop, signed demands trigger re… - Assigned debts keep defenses with digital exceptions: mixed, low. People owing assigned payments retain specified claims and defenses arising before receipt of a signed assignment notice. Controllable accounts and payment rights are excluded from several usual payment and notice protections. Those exclusions cover paying the original creditor before notice, deman… - Borrowers get signed debt explanation rules: mixed, low. Beginning May 6, 2026, a lender's accounting must be signed and explain unpaid secured debt in reasonable detail. Its balance date must fall within 35 days before or after the record's date. After consumer goods are sold, borrowers must sign requests explaining money left over or still owed when th… - Creditors gain claims but must credit payments: mixed, low. Limits on claims to later-acquired consumer goods or commercial tort claims do not block claims to specified proceeds. Covered proceeds include consumer goods received as proceeds and goods mixed together. Creditors holding or controlling covered collateral, including electronic assets, have statut… - Goods buyers face signed contract rules: mixed, low. Goods contracts priced at $500 or more generally need a record signed by the person being held to it. Enforcement is limited to the quantity shown, and legal exceptions remain. Between merchants, a confirmation can count unless the informed recipient objects in a record within 10 days. Earlier agre… - Bank security steps shape customer liability: mixed, low. Beginning May 6, 2026, banks and customers can agree on payment-order security steps that place duties on either party. Codes, biometrics, and other identifiers can be used; a signature comparison or known email, internet address, or phone number alone is insufficient. An unauthorized order can bin… - Digital debt transfers change payment duties: mixed, low. Beginning May 6, 2026, debtors can pay the former controller until an effective transfer notice requires payment to the new controller. The signed notice must identify the debt and new controller, state the transfer, and provide a commercially reasonable payment method. Before notice, the debtor an… - Property owners' consent affects fixture claims: mixed, low. The law where tangible collateral sits governs specified filing and creditor-priority questions. Covered questions include filings for fixtures, security claims in timber to be cut, and certain claims without creditor possession. Fixtures are goods attached to real property. A fixture creditor gain… - Business deals define creditor rights and filings: mixed, low. Protected business series count as legal persons when their founding law limits creditor access to their assets. Covered consignments and purchases of payment rights count as security interests. A seller keeping title also holds a security interest; a buyer's special interest in identified goods do… - Inventory and livestock lenders need timely notices: mixed, low. Lenders financing purchases of inventory or livestock need signed notices to claim specified priority over conflicting creditors. Notices must describe the assets and state that the lender has or expects a purchase-financing security claim. The conflicting creditor must receive notice within five y… - Account creditors follow jurisdiction and transition rules: mixed, low. For covered electronic records, statutory jurisdiction rules govern; a different agreed choice works only as the governing law permits. Deposit-account security claims follow the bank's jurisdiction, even without another connection there. Specified investment assets follow designated jurisdiction r… - Bank credit guarantees get dispute rules: mixed, low. Beginning May 6, 2026, parties to letters of credit can choose binding law and dispute forums. The choice must appear in a record signed by affected parties or in the relevant letter of credit or undertaking. Bank branches count as separate legal entities for jurisdiction, governing law, and recogn… - Banks keep duties unless they agree: mixed, low. A security claim against a deposit account does not itself change the bank's rights or duties. Neither bank knowledge of the claim nor instructions from the secured creditor change those duties. The bank can agree to different rights or duties in a signed record. - Buyers get electronic goods document rules: mixed, low. Beginning May 6, 2026, chattel paper covers recorded payment rights secured by specific goods and qualifying leases mainly for possession and use. It excludes vessel-use and credit-card payment rights; writings recording chattel paper are not instruments under secured-transaction rules. People owin… - Collateral settlements and lien payments need signatures: mixed, low. Lower-ranking lien holders must send signed demands before proceeds are fully distributed to receive payment through the statutory proceeds process. Required records for collateral transfer statements, settlement consents, objections, and specified notices must also be signed. Signed records are re… - Digital asset buyers gain qualified protections: mixed, low. Qualifying buyers of controllable electronic records and linked payment rights gain priority over earlier security claims, including perfected claims. Chapter 12 governs what counts as giving value, and existing securities and electronic-record protections remain. Creditors lose specified liability… - Digital asset holders must show control: mixed, low. Beginning May 6, 2026, control of covered electronic records and electronic money requires access to substantially all their benefit. The holder must be readily identifiable and have exclusive powers to block others from that benefit and transfer control. The law also addresses shared powers and co… - Digital buyers gain protection against claims: mixed, low. Beginning May 6, 2026, buyers generally receive the rights their seller has or can transfer, limited by the interest purchased. A qualifying buyer takes covered electronic records and payment rights free of property claims by obtaining control for value, in good faith, without notice. A financing s… - Electronic checks keep their payment force: mixed, low. Beginning May 6, 2026, sending a check image and related information counts as issuing the check when the payee agrees. The information must let a bank collect it as an electronic check under federal law. Destroying the paper check during image processing does not, by itself, cancel the duty to pay… - Electronic signatures count in commercial agreements: mixed, low. People can sign commercial records using electronic symbols, sounds, or processes when they intend to approve the record. Records and notices can travel through usual communication methods to an address reasonable for the situation. Courts decide whether a contract term is noticeable enough that a… - Investors get revised asset control rules: mixed, low. Beginning May 6, 2026, covered controllable electronic records and payment rights generally fall outside the investment-securities definition of a financial asset. The law preserves its stated exception to that exclusion. A buyer can control rights held through a securities intermediary through som… - Lenders follow asset specific local laws: mixed, low. Beginning May 6, 2026, electronic chattel paper's designated jurisdiction governs protection of lender claims against others and claim priority. That rule applies even without another connection to the place; possession-based claims involving authoritative paper copies follow the copy's location. C… - Lenders gain deposit account control routes: mixed, low. Beginning May 6, 2026, a lender can control a deposit account by being its bank or becoming the bank's customer. Another route is a signed agreement among the debtor, lender, and bank to follow lender instructions without further debtor consent. A person other than the debtor can also hold control… - Lenders get rules for digital collateral: mixed, low. Beginning May 6, 2026, secured-loan rules recognize digital payment rights whose records direct payment to the person in control. They also classify electronic records, payment rights, software, and tangible money, and define parties selling or transferring payment rights and security interests. Fo… - Merchants face binding signed contract promises: mixed, low. Beginning May 6, 2026, a merchant's signed promise keeps an offer open for the stated or reasonable period, up to three months. The merchant must separately sign that promise when it appears on the recipient's form. Goods contracts can also require signed records for changes or cancellation. When a… - New rules for mixed sales and leases: mixed, low. Beginning May 6, 2026, Utah sets rules for deals combining goods sales or leases with services or other property. When the goods sale or lease is the main part, the relevant commercial-code chapter covers the whole deal. Otherwise, only rules mainly about the goods portion apply, with extra rules f… - Payment record buyers need possession and control: mixed, low. Delivery of covered commercial papers means a voluntary transfer of possession. Buyers of chattel paper—records showing payment obligations tied to goods—must give new value in good faith during ordinary business. To claim specified priority, they must possess every authoritative paper copy and con… ## Sponsors and cosponsors - Sponsor: Anthony E. Loubet (Republican), House - Cosponsor: Kirk A. Cullimore (Republican), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-03-05 | Senate | Senate/ passed 2nd & 3rd readings/ suspension | pass | 23 | 0 | | | 2026-03-05 | Senate | Senate/ uncircled | fail | 0 | 0 | | | 2026-03-05 | Senate | Senate/ circled | fail | 0 | 0 | | | 2026-02-27 | Senate | Senate Comm - Favorable Recommendation | pass | 6 | 0 | | | 2026-02-23 | House | House/ passed 3rd reading | pass | 71 | 1 | | | 2026-02-13 | House | House Comm - Substitute Recommendation | pass | 8 | 0 | | | 2026-02-13 | House | House Comm - Favorable Recommendation | pass | 9 | 0 | | ## Actions (35) - 2026-03-23: Governor Signed - 2026-03-16: House/ to Governor (House) - 2026-03-16: House/ received enrolled bill from Printing (House) - 2026-03-12: House/ enrolled bill to Printing (House) - 2026-03-12: Enrolled Bill Returned to House or Senate - 2026-03-10: Draft of Enrolled Bill Prepared - 2026-03-10: Bill Received from House for Enrolling - 2026-03-06: House/ signed by Speaker/ sent for enrolling (House) - 2026-03-06: House/ received from Senate (House) - 2026-03-05: Senate/ to House (Senate) - 2026-03-05: Senate/ signed by President/ returned to House (Senate) - 2026-03-05: Senate/ passed 2nd & 3rd readings/ suspension (Senate) - 2026-03-05: Senate/ uncircled (Senate) - 2026-03-05: Senate/ circled (Senate) - 2026-03-05: Senate/ 2nd & 3rd readings/ suspension (Senate) - 2026-03-05: Senate/ Rules to 2nd Reading Calendar (Senate) - 2026-03-04: Senate/ 2nd Reading Calendar to Rules (Senate) - 2026-02-27: Senate/ placed on 2nd Reading Calendar (Senate) - 2026-02-27: Senate/ committee report favorable (Senate) - 2026-02-27: Senate Comm - Favorable Recommendation - 2026-02-25: Senate/ to standing committee (Senate) - 2026-02-24: Senate/ 1st reading (Introduced) (Senate) - 2026-02-23: Senate/ received from House (Senate) - 2026-02-23: House/ to Senate (House) - 2026-02-23: House/ passed 3rd reading (House) - 2026-02-23: House/ 3rd reading (House) - 2026-02-17: House/ 2nd reading (House) - 2026-02-17: House/ comm rpt/ substituted (House) - 2026-02-13: House Comm - Favorable Recommendation - 2026-02-13: House Comm - Substitute Recommendation - 2026-02-10: House/ to standing committee (House) - 2026-02-09: House/ received fiscal note from Fiscal Analyst (House) - 2026-02-04: House/ 1st reading (Introduced) (House) - 2026-02-04: House/ received bill from Legislative Research (House) - 2026-02-03: Numbered Bill Publicly Distributed ## Bill text - Enrolled, 2026-03-12: [PDF](https://le.utah.gov/Session/2026/bills/enrolled/HB0474.pdf) - Substitute #1, 2026-02-12: [PDF](https://le.utah.gov/Session/2026/bills/introduced/HB0474S01.pdf) - Introduced, 2026-02-03: [PDF](https://le.utah.gov/Session/2026/bills/introduced/HB0474.pdf) ## Related bills - H.B. 94: Criminal Accounts Receivable Amendments (signed) - H.B. 101: Firearm Background Check Amendments (signed) - H.B. 178: School Zone Speeding Amendments (signed) - H.B. 134: Offender Transfer Amendments (signed) - H.B. 136: Unlicensed Driver Amendments (signed) - H.B. 220: Public Safety Data Amendments (signed) ## Sources - [Enrolled (PDF)](https://le.utah.gov/Session/2026/bills/enrolled/HB0474.pdf) - [Substitute #1 (PDF)](https://le.utah.gov/Session/2026/bills/introduced/HB0474S01.pdf) - [Introduced (PDF)](https://le.utah.gov/Session/2026/bills/introduced/HB0474.pdf) ## Related - [H.B. 94: Criminal Accounts Receivable Amendments](https://policyrisk.com/state-bill/UT-HB94-2026GS) - [H.B. 101: Firearm Background Check Amendments](https://policyrisk.com/state-bill/UT-HB101-2026GS) - [H.B. 178: School Zone Speeding Amendments](https://policyrisk.com/state-bill/UT-HB178-2026GS) - [H.B. 134: Offender Transfer Amendments](https://policyrisk.com/state-bill/UT-HB134-2026GS) - [H.B. 136: Unlicensed Driver Amendments](https://policyrisk.com/state-bill/UT-HB136-2026GS) - [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-HB474-2026GS (as of 2026-10-14).