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2017 Utah Code
Title 53B - State System of Higher Education
Chapter 13 - Higher Education Loan Act
Section 109 - Board pledges -- Attachment of lien -- Recording unnecessary.
Universal Citation: UT Code § 53B-13-109 (2017)
53B-13-109. Board pledges -- Attachment of lien -- Recording unnecessary.
Enacted by Chapter 167, 1987 General Session
- (1) A pledge made by the board is valid and binding from the time the pledge is made.
- (2) The money or property pledged and subsequently received by the board is immediately subject to the lien of the pledge without physical delivery or further act.
- (3) The lien of the pledge is valid and binding against all parties having a claim in tort, contract, or otherwise against the board, irrespective of whether the parties have notice of the claim.
- (4) Neither the resolution nor another instrument by which a pledge is created need be recorded.
Enacted by Chapter 167, 1987 General Session
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