1     
STATUTE OF LIMITATIONS MODIFICATIONS

2     
2019 GENERAL SESSION

3     
STATE OF UTAH

4     
Chief Sponsor: V. Lowry Snow

5     
Senate Sponsor: Todd Weiler

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7     LONG TITLE
8     General Description:
9          This bill modifies provisions related to a statute of limitations.
10     Highlighted Provisions:
11          This bill:
12          ▸     clarifies the statute of limitations for credit agreements; and
13          ▸     makes technical changes.
14     Money Appropriated in this Bill:
15          None
16     Other Special Clauses:
17          None
18     Utah Code Sections Affected:
19     AMENDS:
20          78B-2-309, as renumbered and amended by Laws of Utah 2008, Chapter 3
21     

22     Be it enacted by the Legislature of the state of Utah:
23          Section 1. Section 78B-2-309 is amended to read:
24          78B-2-309. Within six years -- Mesne profits of real property -- Instrument in
25     writing -- Fire suppression.
26          (1) An action may be brought within six years:
27          [(1)] (a) for the mesne profits of real property;
28          [(2)] (b) subject to Subsection (2), upon any contract, obligation, or liability founded
29     upon an instrument in writing, except those mentioned in Section 78B-2-311; [and] or
30          [(3)] (c) to recover fire suppression costs or other damages caused by wildland fire.
31          (2) For a credit agreement, as defined in Section 25-5-4, the six-year period described
32     in Subsection (1) begins the later of the day on which:
33          (a) the debt arose;
34          (b) the debtor makes a written acknowledgment of the debt or a promise to pay the
35     debt; or
36          (c) the debtor or a third party makes a payment on the debt.