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2012 Utah Code
Title 70A - Uniform Commercial Code
Article 1a - Uniform Commercial Code - General Provisions
Section 309 - Option to accelerate at will.
Universal Citation:
UT Code ยง 70A-1a-309 (2012)
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70A-1a-309. Option to accelerate at will.
A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or when the party "considers itself insecure," or words of similar import, means that the party has power to do so only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of establishing lack of good faith is on the party against which the power has been exercised.
Enacted by Chapter 272, 2007 General Session
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