Title 47, Commercial Instruments And Transactions

(1) A security interest that is an unperfected security interest immediately before this act takes effect becomes a perfected security interest: (1) Without further action, when this act takes effect if the applicable requirements for perfection under this chapter as amended by t…

(a) Pre-effective-date filing effective. The filing of a financing statement before this act takes effect is effective to perfect a security interest to the extent the filing would satisfy the applicable requirements for perfection under this chapter as amended by this act. (b) W…

(a) Initial financing statement in lieu of continuation statement. The filing of an initial financing statement in the office specified in § 47-9-501 continues the effectiveness of a financing statement filed before this act takes effect if: (1) The filing of an initial financing…

(a) Pre-effective-date financing statement. In this section, “pre-effective-date financing statement” means a financing statement filed before this act takes effect. (b) Applicable law. After this act takes effect a person may add or delete collateral covered by, continue or term…

(1) A person may file an initial financing statement or a continuation statement under this part if:(1) The secured party of record authorizes the filing; and (2) The filing is necessary under this part: (A) To continue the effectiveness of a financing statement filed before this…

This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this act takes effect, this chapter as it existed before amendment determines priority.

This chapter may be cited as the “Uniform Electronic Transactions Act.”

(1) In this chapter:(1) “Agreement” means the bargain of the parties in fact, as found in their language or inferred from other circumstances and from rules, regulations, and procedures given the effect of agreements under laws otherwise applicable to a particular transaction.(2)…

(a) Except as otherwise provided in subsection (b), this chapter applies to electronic records and electronic signatures relating to a transaction. (b) This chapter does not apply to a transaction to the extent it is governed by:(1) A law governing the creation and execution of w…

(a) This chapter does not require a record or signature to be created, generated, sent, communicated, received, stored, or otherwise processed or used by electronic means or in electronic form. (b) This chapter applies only to transactions between parties each of which has agreed…

(1) This chapter must be construed and applied to:(1) Facilitate electronic transactions consistent with other applicable law;(2) Be consistent with reasonable practices concerning electronic transactions and with the continued expansion of those practices; and(3) Effectuate its …

(a) A record or signature may not be denied legal effect or enforceability solely because it is in electronic form. (b) A contract may not be denied legal effect or enforceability solely because an electronic record was used in its formation. (c) If a law requires a record to be …

(a) If parties have agreed to conduct a transaction by electronic means and a law requires a person to provide, send, or deliver information in writing to another person, the requirement is satisfied if the information is provided, sent, or delivered, as the case may be, in an el…

(a) An electronic record or electronic signature is attributable to a person as if it were the act of the person. The act of the person may be shown in any manner, including a showing of the efficacy of any security procedure applied to determine the person to whom the electronic…

(1) If a change or error in an electronic record occurs in a transmission between parties to a transaction, the following rules apply:(1) If the parties have agreed to use a security procedure to detect changes or errors and one party has conformed to the procedure, but the other…

If a law requires a signature or record to be notarized, acknowledged, verified, or made under oath, the requirement is satisfied if the electronic signature of the person authorized to perform those acts, together with all other information required to be included by other appli…

(a) If a law requires that a record be retained, the requirement is satisfied by retaining an electronic record of the information in the record which:(1) Accurately reflects the information set forth in the record after it was first generated in its final form as an electronic r…

In a proceeding, evidence of a record or signature may not be excluded solely because it is in electronic form.

(1) In an automated transaction, the following rules apply:(1) A contract may be formed by the interaction of electronic agents of the parties, even if no individual was aware of or reviewed the electronic agents' actions or the resulting terms and agreements;(2) A contract may b…

(a) Unless otherwise agreed between the sender and the recipient, an electronic record is sent when it:(1) Is addressed properly or otherwise directed properly to an information processing system that the recipient has designated or uses for the purpose of receiving electronic re…

(a) In this section, “transferable record” means an electronic record that:(1) Would be a note under chapter 3 of this title, or a document under chapter 7 of this title, if the electronic record were in writing; and(2) The issuer of the electronic record expressly has agreed tha…

(a) Except as may otherwise be specifically required or prohibited by applicable law, the information systems council established under § 4-3-5501, shall determine whether, and the extent to which, this state or any of its departments or agencies will create and retain electronic…

(a) Except as may otherwise be specifically required or prohibited by applicable law, and except as otherwise provided in § 47-10-112(f):(1) The information systems council established under § 4-3-5501, shall further determine whether, and the extent to which, this state or any o…

(a) Any local governmental public official including, but not limited to, officials of counties, municipalities, utility districts, other local governmental entities and those offices enumerated under § 8-22-101, implementing an electronic business system that provides for the se…

The information systems council may encourage and promote consistency and interoperability with similar requirements adopted by other governmental agencies of this and other states, and the federal government and nongovernmental persons interacting with governmental agencies of t…

If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provision…

(a) Except as provided in subsection (b), this chapter is intended to supercede, to the fullest possible extent, § 101 of the Electronic Signatures in Global and National Commerce Act, United States Public Law 106-229, as permitted under § 102 of that act. (b) No provision of the…

(1) In any dispute as to the proper construction of one (1) or more sections of the Uniform Electronic Transactions Act, the official comments pertaining to the corresponding sections of the official text, as adopted by the Uniform Law Commission, and as in effect on July 1, 2001…

(1) As used in this part:(1) “Distributed ledger technology” means any distributed ledger protocol and supporting infrastructure, including blockchain, that uses a distributed, decentralized, shared, and replicated ledger, whether it be public or private, permissioned or permissi…

(a) A cryptographic signature that is generated and stored through distributed ledger technology is considered to be in an electronic form and to be an electronic signature. (b) A record or contract that is secured through distributed ledger technology is considered to be in an e…

This chapter may be cited as the “Retail Installment Sales Act.”

(1) As used in this chapter, unless the context otherwise requires:(1) “Cash sale price” means the price for which the seller would have sold or furnished to the buyer, and the buyer would have bought or obtained from the seller, the goods or services which are the subject matter…

(a) Form and Contents. (1) Every retail installment contract shall be in writing and shall set forth the following:(A) The cash price and identification of the goods or services;(B) The amount of the buyer's down payment, if any, whether made wholly or in part in money or goods;(…

(a) Form and Contents; Delivery to Buyer. (1) Every retail charge agreement shall be in writing and shall be signed by the retail buyer.(2) A retail charge agreement shall be deemed to be signed or accepted by the retail buyer if, after a request for a retail charge account, such…

(a) Retail installment contracts and retail charge agreements negotiated and entered into by mail or telephone without personal solicitation by salespersons or other representatives of the seller, where a catalog of the seller or other printed solicitation of business, which is d…

Any retail seller may assign, pledge, hypothecate, or otherwise transfer a retail installment contract or retail charge agreement to any person, firm, or corporation on such terms and conditions and for such price as may be mutually agreed upon.

(a) An intentional and willful violation of this chapter is a Class C misdemeanor. (b) In case of an intentional failure to comply with this chapter, or in case the seller shall permit the buyer to sign a contract containing blank spaces not permitted by this chapter, the buyer s…

Any waiver by the retail buyer of any provisions of this chapter or of any remedies granted to the buyer by this chapter shall be unenforceable and void.

(a) A “retail installment transaction,” as defined in § 47-11-102, or any other conditional sales contract or other agreement covering the time sale of personal property or services, and the assignment thereof, and the business of selling such personal property and services on a …

(a) The seller under any retail installment contract shall have no authority to collect any fees or charges for a policy of credit life insurance issued in connection with property purchased under a retail installment contract unless the consumer has specifically elected, evidenc…

(a) When any surety by bill, bond, covenant, or nonnegotiable note for the payment of money or note for specific articles, other than the surety of a guardian, executor, administrator, or public officer, or guarantor of negotiable paper, apprehends that the principal is likely to…

The surety shall prove by two (2) witnesses the service on the creditor of a copy of the notice required by § 47-12-101.

Sections 47-12-101 and 47-12-102 shall extend to the representatives of the parties in case of the death of either, or both.

The assignor or endorser of any such bond, bill, or note, may pursue the same course with like effect in order to discharge such assignor or endorser from liability to the assignee of the bond, bill, or note.

The rights and remedies of the creditor against the principal debtor shall be in no way affected by this chapter.