Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“It is unlawful to establish or operate a deposit production office, or similar office, in this state to solicit deposits or similar indebtedness, except for the stated office-based activities.”
Use this record to locate individual provisions, understand the instrument’s recorded structure, and move from a research summary to the exact source text.
02
How the instrument operates
- 01
Start with the recorded version
Enacted 1995. The date shown identifies this source expression and should not be treated as proof that no later change exists.
- 02
Locate the controlling provision
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- 03
Read conditions and exceptions together
Keep subsections, definitions, provisos and cross-references in context before drawing a legal conclusion.
- 04
Verify currency and official wording
Confirm later legislation, commencement notices and corrections with the official publisher before advice, filing or reliance.
03
Research entry points
Selected provisions across the instrument. Open any row to continue with the exact stored text.
It is unlawful to establish or operate a deposit production office, or similar office, in this state to solicit deposits or similar indebtedness, except for the stated office-based activities.
Section 7-1-618
Except for Subsection (2), this provision makes it unlawful to establish or operate a deposit production office or similar office in this state to solicit deposits or similar indebtedness interests.
Section 7-1-618(1)
The prohibition does not apply to certain activities at a depository institution’s main office or branch, or at an affiliate depository institution’s main office or branch when acting as agent as permitted by Section 7-1-716.
Section 7-1-618(2)
activities conducted at a main office or branch of the depository institution conducting the activities; or
Section 7-1-618(2)(a)
activities conducted at the main office or branch of an affiliate depository institution acting as an agent to the extent permitted under Section 7-1-716 .
Section 7-1-618(2)(b)
04
Source and current-law status
In force source record
Source record from le.utah.gov · Enacted 1995
This source records the instrument as in force. Confirm subsequent amendments, commencement notices, and judicial treatment before relying on it.