This document includes Senate 3rd Reading Floor Amendments incorporated into the bill on Mon, Mar 9, 2020 at 6:11 PM by lpoole.
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CONFESSION OF JUDGMENT AMENDMENTS

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2020 GENERAL SESSION

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STATE OF UTAH

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Chief Sponsor: Kirk A. Cullimore

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House Sponsor: Michael K. McKell

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7     LONG TITLE
8     General Description:
9          This bill modifies the Agreements to Confess Judgments Act.
10     Highlighted Provisions:
11          This bill:
12          ▸     allows parties to enter into a confession of judgment before a default except in
13     employment contracts and certain consumer credit contracts; and
14          ▸     provides that the default event for a confession of judgment is the default giving rise
15     to the underlying action.
16     Money Appropriated in this Bill:
17          None
18     Other Special Clauses:
19          None
20     Utah Code Sections Affected:
21     AMENDS:
22          78B-23-102, as enacted by Laws of Utah 2019, Chapter 132
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24     Be it enacted by the Legislature of the state of Utah:
25          Section 1. Section 78B-23-102 is amended to read:
26          78B-23-102. Certain agreements to confess judgment void.
27          (1) Except as provided in Subsection (2), parties may execute an agreement or
28     stipulation to confess judgment before a default giving rise to an action.
29          [An] (2) (a) In an employment contract or a consumer credit contract Ŝ→ [that is not a
30     consumer credit contract involving real estate] ←Ŝ , an agreement or stipulation to confess judgment
31     is void if the agreement or stipulation is executed:
32          [(1)] (i) on or after May 14, 2019; and
33          [(2)] (ii) before a default giving rise to an action in which the judgment under the
34     agreement or stipulation is to be confessed.
35          (b) To satisfy the requirements of Subsection (2)(a)(ii), the parties need only execute
36     the agreement or stipulation after the default giving rise to the underlying action and not after
37     any subsequent default on the agreement or stipulation.