Utah 2026 General Session Status: Enacted 2 R cosponsors

HB 382 — Uniform Assignment for Benefit of Creditors Amendments

Last action — Governor Signed

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 26, 2026. Enacted.

Signed by Governor Spencer Cox (Republican) on March 23, 2026.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 54% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 2 sponsors

    1 primary, 1 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 R).

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

31 added · 32 removed

Plain-language change summary

The latest version of HB 382 includes a line that repeals the existing code related to assignments for the benefit of creditors. This change is significant because it removes a legal process used by individuals and businesses to manage their debts. By eliminating this code, the bill potentially streamlines how creditors are handled in bankruptcy situations, which could affect financial recovery for both creditors and debtors.

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Previous
Latest
02-18 12:09 H.B.
Enrolled Copy H.B.
H Money Appropriated in this Bill:
Money Appropriated in this Bill:
B None .
None Other Special Clauses:
Other Special Clauses:
None H.B.
8 None 2 Utah Code Sections Affected:
382 Enrolled Copy Utah Code Sections Affected:
6-2-101, Utah Code Annotated 1953 H.B.
6-2-101, Utah Code Annotated 1953 6-2-102, Utah Code Annotated 1953 6-2-103, Utah Code Annotated 1953 6-2-104, Utah Code Annotated 1953 6-2-105, Utah Code Annotated 1953 6-2-106, Utah Code Annotated 1953 6-2-107, Utah Code Annotated 1953 6-2-108, Utah Code Annotated 1953 6-2-109, Utah Code Annotated 1953 6-2-110, Utah Code Annotated 1953 6-2-111, Utah Code Annotated 1953 6-2-112, Utah Code Annotated 1953 6-2-113, Utah Code Annotated 1953 6-2-114, Utah Code Annotated 1953 6-2-115, Utah Code Annotated 1953 6-2-116, Utah Code Annotated 1953 6-2-117, Utah Code Annotated 1953 6-2-118, Utah Code Annotated 1953 6-2-119, Utah Code Annotated 1953 6-2-120, Utah Code Annotated 1953 6-2-121, Utah Code Annotated 1953 6-2-122, Utah Code Annotated 1953 6-2-123, Utah Code Annotated 1953 6-2-124, Utah Code Annotated 1953 6-2-125, Utah Code Annotated 1953 REPEALS:
382 02-18 12:09 6-2-102, Utah Code Annotated 1953 6-2-103, Utah Code Annotated 1953 6-2-104, Utah Code Annotated 1953 6-2-105, Utah Code Annotated 1953 6-2-106, Utah Code Annotated 1953 6-2-107, Utah Code Annotated 1953 6-2-108, Utah Code Annotated 1953 6-2-109, Utah Code Annotated 1953 6-2-110, Utah Code Annotated 1953 6-2-111, Utah Code Annotated 1953 6-2-112, Utah Code Annotated 1953 6-2-113, Utah Code Annotated 1953 6-2-114, Utah Code Annotated 1953 6-2-115, Utah Code Annotated 1953 6-2-116, Utah Code Annotated 1953 6-2-117, Utah Code Annotated 1953 6-2-118, Utah Code Annotated 1953 6-2-119, Utah Code Annotated 1953 6-2-120, Utah Code Annotated 1953 6-2-121, Utah Code Annotated 1953 6-2-122, Utah Code Annotated 1953 6-2-123, Utah Code Annotated 1953 6-2-124, Utah Code Annotated 1953 6-2-125, Utah Code Annotated 1953 REPEALS:
6-1-1, Utah Code Annotated 1953 6-1-2, as last amended by Laws of Utah 2024, Chapter 365 6-1-3, as last amended by Laws of Utah 2010, Chapter 378 6-1-4, as last amended by Laws of Utah 2024, Chapter 365 6-1-5, as last amended by Laws of Utah 2009, Chapter 388 6-1-6, Utah Code Annotated 1953 - 2 - Enrolled Copy H.B.
6-1-1, Utah Code Annotated 1953 6-1-2, as last amended by Laws of Utah 2024, Chapter 365 6-1-3, as last amended by Laws of Utah 2010, Chapter 378 6-1-4, as last amended by Laws of Utah 2024, Chapter 365 6-1-5, as last amended by Laws of Utah 2009, Chapter 388 6-1-6, Utah Code Annotated 1953 6-1-7, Utah Code Annotated 1953 6-1-8, Utah Code Annotated 1953 6-1-9, as last amended by Laws of Utah 2010, Chapter 378 - 2 - 02-18 12:09 H.B.
382 6-1-7, Utah Code Annotated 1953 6-1-8, Utah Code Annotated 1953 6-1-9, as last amended by Laws of Utah 2010, Chapter 378 6-1-10, as last amended by Laws of Utah 2024, Chapter 365 6-1-11, as last amended by Laws of Utah 2024, Chapter 365 6-1-12, Utah Code Annotated 1953 6-1-13, as last amended by Laws of Utah 2024, Chapter 365 6-1-14, as last amended by Laws of Utah 2024, Chapter 365 6-1-15, as last amended by Laws of Utah 2010, Chapter 378 6-1-16, as last amended by Laws of Utah 2024, Chapter 365 6-1-17, as last amended by Laws of Utah 2024, Chapter 365 6-1-18, as last amended by Laws of Utah 2024, Chapter 365 6-1-19, Utah Code Annotated 1953 6-1-20, Utah Code Annotated 1953 Be it enacted by the Legislature of the state of Utah:
382 6-1-10, as last amended by Laws of Utah 2024, Chapter 365 6-1-11, as last amended by Laws of Utah 2024, Chapter 365 6-1-12, Utah Code Annotated 1953 6-1-13, as last amended by Laws of Utah 2024, Chapter 365 6-1-14, as last amended by Laws of Utah 2024, Chapter 365 6-1-15, as last amended by Laws of Utah 2010, Chapter 378 6-1-16, as last amended by Laws of Utah 2024, Chapter 365 6-1-17, as last amended by Laws of Utah 2024, Chapter 365 6-1-18, as last amended by Laws of Utah 2024, Chapter 365 6-1-19, Utah Code Annotated 1953 6-1-20, Utah Code Annotated 1953 Be it enacted by the Legislature of the state of Utah:
(2)(a) "Asset" means a legal or equitable interest in property of an assignor, regardless of the person holding or in possession, custody, or control of the property or where the property is located.
(2)(a) "Asset" means a legal or equitable interest in property of an assignor, regardless of - 3 - H.B.
382 Enrolled Copy the person holding or in possession, custody, or control of the property or where the property is located.
- 3 - H.B.
(i) a legal or equitable interest in property restricted from assignment if the restriction is effective under other law, unless the other law permits assignment with the consent of another person and the person consents to the assignment in a manner permitted by the other law;
382 02-18 12:09 (i) a legal or equitable interest in property restricted from assignment if the restriction is effective under other law, unless the other law permits assignment with the consent of another person and the person consents to the assignment in a manner permitted by the other law;
(b) in the case of an organization:
- 4 - Enrolled Copy H.B.
382 (b) in the case of an organization:
- 4 - 02-18 12:09 H.B.
(ii) a partnership or limited liability company in which the organization is a general partner or managing member;
382 (ii) a partnership or limited liability company in which the organization is a general partner or managing member;
(a) to deposit in the mail, deliver for transmission, or transmit by any other usual means of communication, with postage or cost of transmission provided for, addressed to any address reasonable under the circumstances;
(a) to deposit in the mail, deliver for transmission, or transmit by any other usual means - 5 - H.B.
or (b) to cause the record or notification to be received within the time the record or - 5 - H.B.
382 Enrolled Copy of communication, with postage or cost of transmission provided for, addressed to any address reasonable under the circumstances;
382 02-18 12:09 notification would have been received if properly sent under Subsection (23)(a).
or (b) to cause the record or notification to be received within the time the record or notification would have been received if properly sent under Subsection (23)(a).
(c) does not have a claim against the assignment estate, other than a claim for fees and expenses to be paid under the assignment agreement;
(c) does not have a claim against the assignment estate, other than a claim for fees and - 6 - Enrolled Copy H.B.
382 expenses to be paid under the assignment agreement;
- 6 - 02-18 12:09 H.B.
(e) does not hold an equity interest in the assignor other than a noncontrolling interest in a publicly traded company;
382 (e) does not hold an equity interest in the assignor other than a noncontrolling interest in a publicly traded company;
(6) The effective date of an assignment agreement is the date the agreement is signed by the last party to the agreement that is required to sign the agreement unless a later date is identified in the agreement as the effective date.
(6) The effective date of an assignment agreement is the date the agreement is signed by the - 7 - H.B.
382 Enrolled Copy last party to the agreement that is required to sign the agreement unless a later date is identified in the agreement as the effective date.
- 7 - H.B.
6-2-105 .
382 02-18 12:09 6-2-105 .
(1) In this section, "financing statement" has the same meaning as that term is defined in Section 70a-9a-102.
(1) In this section, "financing statement" has the same meaning as that term is defined in Section 70A-9a-102.
(1) Unless a creditor waives in a signed record the right to notification, an assignee shall send a notification of the assignment to each creditor known to the assignee within a reasonable time not to exceed 30 days after the effective date of the assignment - 8 - 02-18 12:09 H.B.
- 8 - Enrolled Copy H.B.
382 agreement.
382 (1) Unless a creditor waives in a signed record the right to notification, an assignee shall send a notification of the assignment to each creditor known to the assignee within a reasonable time not to exceed 30 days after the effective date of the assignment agreement.
(e) if the assignment includes a legal or equitable interest in real property or titled personal property, cooperate with the assignee in taking actions under Section 6-2-105;
- 9 - H.B.
(f) on or as soon as practicable after the effective date of the assignment agreement, - 9 - H.B.
382 Enrolled Copy (e) if the assignment includes a legal or equitable interest in real property or titled personal property, cooperate with the assignee in taking actions under Section 6-2-105;
382 02-18 12:09 provide the assignee:
(f) on or as soon as practicable after the effective date of the assignment agreement, provide the assignee:
(d) pay administrative expenses of the assignment estate, to the extent the assignment estate has sufficient unencumbered assets;
(d) pay administrative expenses of the assignment estate, to the extent the assignment - 10 - Enrolled Copy H.B.
382 estate has sufficient unencumbered assets;
- 10 - 02-18 12:09 H.B.
(f) establish a single date by which creditors whose claims are not otherwise allowed without timely proofs of claim under this chapter must submit proofs of claim, which must be not less than 90 and not more than 210 days after the effective date of the assignment agreement;
382 (f) establish a single date by which creditors whose claims are not otherwise allowed without timely proofs of claim under this chapter must submit proofs of claim, which must be not less than 90 and not more than 210 days after the effective date of the assignment agreement;
(d) engage professionals, including a professional previously engaged by the assignor, to give advice, to prosecute or defend litigation, or for other purposes as the assignee considers appropriate, and pay professionals reasonable fees for services from the assignment estate;
(d) engage professionals, including a professional previously engaged by the assignor, to give advice, to prosecute or defend litigation, or for other purposes as the assignee considers appropriate, and pay professionals reasonable fees for services from the - 11 - H.B.
382 Enrolled Copy assignment estate;
Show all 85 changed rows (45 more)
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- 11 - H.B.
(f) exercise a right to redeem an asset of the assignment estate that is subject to a mortgage, deed of trust, security interest, or other encumbrance;
382 02-18 12:09 (f) exercise a right to redeem an asset of the assignment estate that is subject to a mortgage, deed of trust, security interest, or other encumbrance;
(5) An assignee's power under Subsection (2)(l) to avoid a transfer made before the effective date of the assignment agreement, under or in connection with a swap agreement, securities contract, commodity contract, forward contract, repurchase agreement, or master netting agreement, is limited to the extent a trustee would not have the power to avoid the transfer under the Bankruptcy Code, 11 U.S.C.
(5) An assignee's power under Subsection (2)(l) to avoid a transfer made before the effective date of the assignment agreement, under or in connection with a swap agreement, securities contract, commodity contract, forward contract, repurchase - 12 - Enrolled Copy H.B.
382 agreement, or master netting agreement, is limited to the extent a trustee would not have the power to avoid the transfer under the Bankruptcy Code, 11 U.S.C.
- 12 - 02-18 12:09 H.B.
(6) An assignee shall exercise the powers under this section consistent with the assignee's fiduciary duty under Subsection 6-2-108(l).
382 (6) An assignee shall exercise the powers under this section consistent with the assignee's fiduciary duty under Subsection 6-2-108(l).
(7) If requested by a creditor or other party with an interest in the assignment estate, the assignee shall provide the list created under Subsection (5) to the person making the request to the extent permitted by privacy laws and subject to any privacy safeguards the assignee determines in the assignee's business judgment that are reasonably necessary.
(7) If requested by a creditor or other party with an interest in the assignment estate, the assignee shall provide the list created under Subsection (5) to the person making the request to the extent permitted by privacy laws and subject to any privacy safeguards the - 13 - H.B.
382 Enrolled Copy assignee determines in the assignee's business judgment that are reasonably necessary.
- 13 - H.B.
(1) An assignee may dispute a creditor's claim before final distribution by sending notification in a record stating the nature of the assignee's dispute to the creditor.
382 02-18 12:09 (1) An assignee may dispute a creditor's claim before final distribution by sending notification in a record stating the nature of the assignee's dispute to the creditor.
(d) If a reconsidered claim is disallowed, the assignee shall comply with Subsections (2) and (3).
- 14 - Enrolled Copy H.B.
382 (d) If a reconsidered claim is disallowed, the assignee shall comply with Subsections (2) and (3).
- 14 - 02-18 12:09 H.B.
6-2-112 .
382 6-2-112 .
(3) If a transferee does not take free of the rights and interests described in Subsection (1), the transferee takes the asset subject to:
(3) If a transferee does not take free of the rights and interests described in Subsection (1), - 15 - H.B.
382 Enrolled Copy the transferee takes the asset subject to:
and - 15 - H.B.
and (c) any other security interest or other lien.
382 02-18 12:09 (c) any other security interest or other lien.
(c) To the extent a claim is secured by an asset the value of which, after the deductions provided under this subsection, is greater than the amount of the claim, the protected secured creditor may receive interest on the claim and any reasonable fees, costs, or - 16 - 02-18 12:09 H.B.
- 16 - Enrolled Copy H.B.
382 charges provided for under the agreement or other law under which the claim arose.
382 (c) To the extent a claim is secured by an asset the value of which, after the deductions provided under this subsection, is greater than the amount of the claim, the protected secured creditor may receive interest on the claim and any reasonable fees, costs, or charges provided for under the agreement or other law under which the claim arose.
(a) unsecured claims entitled to priority ahead of claims of other unsecured creditors under other law;
(a) unsecured claims entitled to priority ahead of claims of other unsecured creditors - 17 - H.B.
382 Enrolled Copy under other law;
(8) If the assets available for distribution to claims with equal priority under Subsection (7) - 17 - H.B.
(8) If the assets available for distribution to claims with equal priority under Subsection (7) are insufficient to pay the total amount of the claims with that priority, each creditor with a claim with that priority shall receive a pro rata distribution of the available assets based on the proportion the amount of the creditors claim bears to the total amount of the claims with that priority.
382 02-18 12:09 are insufficient to pay the total amount of the claims with that priority, each creditor with a claim with that priority shall receive a pro rata distribution of the available assets based on the proportion the amount of the creditors claim bears to the total amount of the claims with that priority.
(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 - 18 - 02-18 12:09 H.B.
- 18 - Enrolled Copy H.B.
382 representative's gross negligence or willful misconduct.
382 (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.
(a) for cause, including the assignee's fraud, dishonesty, incompetence, gross mismanagement, or failure to comply with this chapter;
(a) for cause, including the assignee's fraud, dishonesty, incompetence, gross - 19 - H.B.
382 Enrolled Copy mismanagement, or failure to comply with this chapter;
(3)(a) After an assignee resigns, or is removed, dies, or becomes incapacitated, a - 19 - H.B.
(3)(a) After an assignee resigns, or is removed, dies, or becomes incapacitated, a successor assignee provided for in the assignment agreement becomes the assignee, unless the successor assignee is not eligible to be an assignee under Subsection 6-2-103(1) or is subject to removal under Subsection (2).
382 02-18 12:09 successor assignee provided for in the assignment agreement becomes the assignee, unless the successor assignee is not eligible to be an assignee under Subsection 6-2-103(1) or is subject to removal under Subsection (2).
(e) a summary of distributions made or proposed to be made by the assignee for creditor claims;
- 20 - Enrolled Copy H.B.
(f) a description of additional work to be done by the assignee to complete the - 20 - 02-18 12:09 H.B.
382 (e) a summary of distributions made or proposed to be made by the assignee for creditor claims;
382 administration of the assignment estate and the distributions under Section 6-2-114;
(f) a description of additional work to be done by the assignee to complete the administration of the assignment estate and the distributions under Section 6-2-114;
(1) a court with jurisdiction may hear and resolve a matter involving the administration of an assignment or the exercise of an assignee's powers and duties, including a request for instructions or approval or to declare rights.
(1) A court with jurisdiction may hear and resolve a matter involving the administration of an assignment or the exercise of an assignee's powers and duties, including a request for instructions or approval or to declare rights.
(3) Acceptance of the assignment by the assignee constitutes the assignee's consent to the jurisdiction of the court.
- 21 - H.B.
382 Enrolled Copy (3) Acceptance of the assignment by the assignee constitutes the assignee's consent to the jurisdiction of the court.
- 21 - H.B.
6-2-121 .
382 02-18 12:09 6-2-121 .
(3) Except as provided in Subsection 6-2-116(4), the assignment agreement may limit the assignee's liability under Section 6-2-116 and may require the assignee be indemnified by the assignment estate.
(3) Except as provided in Subsection 6-2-116(4), the assignment agreement may limit the assignee's liability under Section 6-2-116 and may require the assignee be indemnified - 22 - Enrolled Copy H.B.
(4) Except as provided under Subsection 6-2-106(1), whenever this chapter requires an action to be taken within a reasonable time, a time not manifestly unreasonable may be - 22 - 02-18 12:09 H.B.
382 by the assignment estate.
382 fixed by agreement.
(4) Except as provided under Subsection 6-2-106(1), whenever this chapter requires an action to be taken within a reasonable time, a time not manifestly unreasonable may be fixed by agreement.
Section 6-1-13, Failure to file inventory -- Examination of debtor.
- 23 - H.B.
382 Enrolled Copy Section 6-1-13, Failure to file inventory -- Examination of debtor.
- 23 - H.B.
Section 6-1-16, Sales -- Confirmation.
382 02-18 12:09 Section 6-1-16, Sales -- Confirmation.
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Action History

  1. Governor Signed

  2. House/ to Governor

  3. House/ received enrolled bill from Printing

  4. House/ enrolled bill to Printing

  5. Enrolled Bill Returned to House or Senate

  6. Draft of Enrolled Bill Prepared

  7. Bill Received from House for Enrolling

  8. House/ signed by Speaker/ sent for enrolling

  9. House/ received from Senate

  10. Senate/ to House

  11. Senate/ signed by President/ returned to House

  12. Senate/ passed 3rd reading

  13. Senate/ 3rd reading

  14. Senate/ passed 2nd reading

  15. Senate/ 2nd reading

  16. Senate/ placed on 2nd Reading Calendar

  17. Senate/ committee report favorable [Senate Business and Labor Committee]

  18. Senate Comm - Favorable Recommendation [Senate Business and Labor Committee]

  19. Senate/ to standing committee [Senate Business and Labor Committee]

  20. Senate/ 1st reading (Introduced)

  21. Senate/ received from House

  22. House/ to Senate

  23. House/ passed 3rd reading

  24. House/ 3rd reading

  25. House/ 2nd reading

  26. House/ committee report favorable [House Economic Development and Workforce Services Committee]

  27. House Comm - Favorable Recommendation [House Economic Development and Workforce Services Committee]

  28. House/ to standing committee [House Economic Development and Workforce Services Committee]

  29. House/ received fiscal note from Fiscal Analyst

  30. LFA/ fiscal note publicly available for HB0382

  31. LFA/ fiscal note sent to sponsor for HB0382

  32. House/ 1st reading (Introduced)

  33. House/ received bill from Legislative Research

  34. LFA/ bill sent to agencies for fiscal input for HB0382

  35. LFA/ bill assigned to staff for fiscal analysis for HB0382

  36. Numbered Bill Publicly Distributed

  37. Bill Numbered but not Distributed

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 102 not signed on

Sponsors (1)

Co-sponsors (1)

Not signed on (102)

102 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 382?
HB 382 is sponsored by Michael K. McKell (Republican) and Jordan D. Teuscher (Republican).
What is the current status of HB 382?
This bill has been enacted into law. Introduced January 26, 2026. Enacted.
Where can I track HB 382?
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