Utah legislation · 2026 General Session
Utah HB382: Uniform Assignment for Benefit of Creditors Amendments
Status: Signed into law, March 23, 2026
This bill enacts the Uniform Assignment for Benefit of Creditors Act.
What the bill says
An act or omission by the assignee. (2) An assignee is not personally liable for an act or omission by the assignor. (3) A representative designated by an assignor under Subsection 6-2-107(2)(d) is exculpated to the same extent as a person acting on behalf of the assignor under other law had there been no assignment, except for an act or omission resulting from the representative's gross negligence or willful misconduct. (4) A term of an assignment agreement relieving the assignee of liability is unenforceable to the extent the agreement relieves the assignee of liability for an act or omissio.
From the enrolled text, March 5, 2026:
an act or omission by the assignee. (2) An assignee is not personally liable for an act or omission by the assignor. (3) A representative designated by an assignor under Subsection 6-2-107(2)(d) is exculpated to the same extent as a person acting on behalf of the assignor under other law had there been no assignment, except for an act or omission resulting from the representative's gross negligence or willful misconduct. (4) A term of an assignment agreement relieving the assignee of liability is unenforceable to the extent the agreement relieves the assignee of liability for an act or omission committed in bad faith or with reckless indifference to the purposes of the assignment or the interests of the creditors of the assignment estate. (5) (a) Subject to Subsection (6) , an assignee is personally liable for breach of a fiduciary duty under Subsection 6-2-108(1) . (b) If the assignee is liable: (i) the assignee is personally liable to a creditor for an individualized harm to the creditor if the harm is not shared by all creditors or a class of creditors; and (ii) the assignee is personally liable to the assignment estate for a harm shared by all creditors or a class of creditors. (6) An assignee is not liable if, in the performance of the assignee's duties and exercise …