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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-1-312, 1981

The commissioner may require certain large stockholders to report stock-secured borrowing and its terms.

Source excerpt

control acquisitionsecured borrowingstock ownership reporting
Jurisdiction
United States — Utah
Status
In force
Official identity
Year 1981
Dates
Enacted 1981
More statute details
Dates
Enacted 1981
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Official source

01

Purpose and legislative effect

“The commissioner may require certain large stockholders to report stock-secured borrowing and its terms.”

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In force source record

Source record from le.utah.gov · Enacted 1981

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Provision

Part 7-1-3

part 7-1-3 Powers and Duties of Commissioner of Financial Institutions

§ 7-1-312Reports required of large stockholders of financial institutions as to loans secured by stock.Provision

Source excerpt

The commissioner may require certain large stockholders to report stock-secured borrowing and its terms.

Reports required of large stockholders of financial institutions as to loans secured by stock. The commissioner may require any person owning or acquiring 25% or more of the outstanding capital stock of any depository institution subject to the commissioner's jurisdiction, or 25% or more of the stock of any corporation having control of the institution, to report to the commissioner any borrowing by that person which is secured by that stock and to report to the commissioner the terms of the borrowing. This section applies only if the purpose for the borrowing was to acquire control of the institution or any other depository institution.
Section 7-1-312Verify source

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  • Undated version · currentEnglish · In force

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