Utah § 14a-5 - Notice or consent required before changing terms of retailing agreement -- Limitations on pledge of personal assets -- Cancellation of retailing agreement.

Full text of Utah Utah Code § 14a-5 — Notice or consent required before changing terms of retailing agreement -- Limitations on pledge of personal assets -- Cancellation of retailing agreement., with citation guidance and answers to common questions.

§ 14a-5. Notice or consent required before changing terms of retailing agreement -- Limitations on pledge of personal assets -- Cancellation of retailing agreement.

Effective 5/7/2025
13-14a-5.  Notice or consent required before changing terms of retailing agreement -- Limitations on pledge of personal assets -- Cancellation of retailing agreement.
(1)Each manufacturer, wholesaler, financing subsidiary or division of the manufacturer, or any independent lender shall give the dealer prior written notice and obtain the dealer's consent before:
(a)changing either the time or manner of payment;
(b)making any changes in notes or security;
(c)adding or releasing guarantors; or
(d)granting extensions or renewals in payment schedules on any contract that is executed by the dealer in behalf of and in the name of any third purchaser of goods or services in which the dealer is obligated to assume contingent liability for the repurchase of that contract upon default by that third party.
(2)A person who signs a security agreement or guarantee agreement with a manufacturer or wholesaler may not be required to pledge or encumber the person's personal assets in a value in excess of the amount of the indebtedness secured.
(3)If any manufacturer or wholesaler fails to give notice or obtain consent under Subsection (1), or fails to comply with Subsection (2), the guarantee or security agreement affected is considered cancelled and terminated.


Amended by Chapter 302, 2025 General Session

Source: official Utah text · Last verified 2026-08-27

Related Utah Legal Topics

Frequently Asked Questions About Utah § 14a-5

What does Utah Code § 14a-5 cover?

Section 14a-5 ("Notice or consent required before changing terms of retailing agreement -- Limitations on pledge of personal assets -- Cancellation of retailing agreement.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Utah § 14a-5?

A common citation format is "Utah Code § 14a-5" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Utah law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.

How does Utah § 14a-5 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Utah.