Utah Code § 17D-2-405
Default under a lease agreement
Utah · Utah Code Title 17D — Limited Purpose Local Government Entities - Other Entities · Status: effective
Cite this
- Citation
- Utah Code § 17D-2-405, Default under a lease agreement, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2330134
- Permanent ID
ys:prov:2330134@1- SHA-256
35583e358e3081877fa0d6ecf616f3eb576c3fae9add8301c8cb4e38e3b0fefc
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
If a local entity fails to pay a lease payment due to a local building authority under a lease agreement:
(1) the local entity shall immediately quit and vacate the project;
(2) the local entity's lease payment obligation under the lease agreement terminates; and
(3) the local building authority may immediately lease the project according to the provisions of:
(a) the proceeding under which bonds to fund the project were authorized; and
(b) any mortgage given to secure the bonds.