Browse 6,137 source-backed statutes, open stored provisions and move directly into source-grounded legal research.
6,137 statutes · page 291 of 307
United States — Utah legislation
20 statutes shown from 6,137 source-backed records
Private or partnership banks are prohibited from being established or operated in this state. An institution may maintain or open a main office or branch in the state only if it is properly chartered, and if its home state is not Utah, authorized to have a Utah branch under both Utah and home-state law.
A bank may not take or hold its own stock as collateral or acquire it, unless needed to prevent loss on a debt previously contracted in good faith.
Stock ownership by banks. A bank may purchase, own and hold, and sell or otherwise dispose of: shares of the Federal Reserve Bank of the Twelfth Federal Reserve District; the stock of a corporation organized under the laws of the United
Banks may not issue any bill, note, or certificate intended to circulate as money.
A bank may not certify a check drawn on the bank unless the drawer has enough money on deposit to cover the check amount at the time of certification.
Banks must charge off certain past-due demand and matured debts as bad debts, unless the debts are well secured and being collected.
A bank may not treat an overdraft older than 90 days as an asset unless it is amply secured and being collected.
A bank may issue convertible or nonconvertible capital notes or debentures only with prior written approval of the commissioner and board authorization.
Defines when a person is treated as a bank, excludes certain chartered institutions, and allows a Utah bank to operate as a credit card bank only if listed operating limits are met.
A bank may conduct certain securities activities, but subject to limits, subsidiary requirements, disclosure duties, and commissioner oversight.
A banking corporation’s business and affairs must be managed by its board of directors, and directors do not have to be state residents or shareholders unless the articles or bylaws require it.
A person appointed or elected as a bank director must take, sign, and immediately file an oath with the commissioner.
Banks’ boards must meet at least quarterly and receive reports on loans, investments, affiliate transactions, credit lines, real-estate acquisitions, delinquent loans, possible losses, and certain insider credit exposures; the reports must be entered into the meeting record.
Bank directors must regularly examine the bank’s books, papers, and affairs, and file a written report within 30 days after the examination.
Contents of examination report of board of directors -- Failure to make and file report as misdemeanor. The report required by Subsection 7-3-33(3) shall contain a statement of the assets and liabilities of the bank as shown by its books,
A directors’ examination may be replaced by certain examinations or a certified audit if the commissioner approves.
A bank may make loans or extend credit to its executive officers, directors, and certain 10%-or-more voting-security holders only as the commissioner allows by regulation.
Shareholders' right to examine bank records -- Records as to a particular customer. Every shareholder of a bank shall have the right to examine the books and records of the bank as provided in Sections 16-10a-1601 through 16-10a-1604 .
Definitions. As used in this chapter: "Business trust" means an entity engaged in a trade or business that is created by a declaration of trust that transfers property to trustees, that the trustees hold and manage for the benefit of one
Only listed entities may be a trust company, and only a trust company may engage in the trust business in this state. Certain out-of-state institutions, federally related depository institutions and subsidiaries, and certain state agencies are excepted from the chapter’s requirements in specified circumstances.
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