Esheria Esheria Statutes
Ask AI Sign in

United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-1-803

Conflicting interests of commissioner, supervisors, and examiners -- Loans and accounts -- Disclosure -- Penalty. Neither the commissioner nor any supervisor or examiner may do any of the following with respect to any…

Source excerpt

bank supervisionbanking accountsconflict of interestemployment restrictionsfinancial-services-complianceinstitutional conflicts of interestloan disclosurepublic-officer-conflicts
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
On this page

Professional statute overview

Enactment structure, operative effect and source provenance

Official source

01

Purpose and legislative effect

“Conflicting interests of commissioner, supervisors, and examiners -- Loans and accounts -- Disclosure -- Penalty. Neither the commissioner nor any supervisor or examiner may do any of the following with respect to any institution under the”

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

  1. 01

    Start with the recorded version

    Legal dates not recorded. The date shown identifies this source expression and should not be treated as proof that no later change exists.

  2. 02

    Locate the controlling provision

    Use the provision map, part headings and full-text filter to move from the broad subject to the exact legal language.

  3. 03

    Read conditions and exceptions together

    Keep subsections, definitions, provisos and cross-references in context before drawing a legal conclusion.

  4. 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.

Subsection 7-1-803(1)(c)

own or deal in, directly or indirectly, the shares or obligations of an institution or of a corporation owning or controlling an institution;

Section 7-1-803(1)(c)

Subsection 7-1-803(2)(b)

A person may be indebted to a department-supervised depository institution on public terms only in specified situations.

Section 7-1-803(2)(b)

Subsection 7-1-803(4)

A person who knowingly violates this section to gain through the influence of their office forfeits the office or employment and commits a third degree felony.

Section 7-1-803(4)

04

Source and current-law status

In force source record

Source record from le.utah.gov · Legal dates not recorded

In force

This source records the instrument as in force. Confirm subsequent amendments, commencement notices, and judicial treatment before relying on it.

For advice, pleadings, or compliance decisions, retain the official source and confirm the current consolidated provision.

Official record

Source-indexed provision map

Sections and provisions

Search by section, heading, part or exact legal wording. Every result remains linked to the stored source record.

Showing 18 of 18 provisions

Provision 17Offence

Part 7-1-8

part 7-1-8 Miscellaneous

§ 7-1-803Conflicting interests of commissioner, supervisors, and examiners -- Loans and accounts -- Disclosure -- Penalty.Offence

Source excerpt

Conflicting interests of commissioner, supervisors, and examiners -- Loans and accounts -- Disclosure -- Penalty. Neither the commissioner nor any supervisor or examiner may do any of the following with respect to any institution under the

Conflicting interests of commissioner, supervisors, and examiners -- Loans and accounts -- Disclosure -- Penalty. Neither the commissioner nor any supervisor or examiner may do any of the following with respect to any institution under the supervision of the department: be indebted, directly or indirectly, as a borrower, accommodation endorser, surety, or guarantor to an institution, or to an individual or any other legal or commercial entity owning or controlling an institution; be an officer, director, or employee of any institution or of an individual or any other legal or commercial entity owning or controlling an institution; own or deal in, directly or indirectly, the shares or obligations of an institution or of a corporation owning or controlling an institution; receive, directly or indirectly, from an institution or any officer, director, or employee of an institution, any salary, fee, or compensation; or be interested in or engage in the negotiations of any loan to, obligation of, or accommodation for another person to or with an institution. Notwithstanding Subsection (1) , the commissioner, any supervisor, or any examiner of the department may: have and maintain savings, transaction, share, time deposit, or other accounts, or certificates and deposits in any financial or depository institution in the state, or be a lessee of a safe deposit box on the same terms and conditions available to the public generally; be indebted to a depository institution under the supervision of the department on terms offered to the public generally upon: a mortgage loan upon the mortgagor's own home; an open or closed end consumer loan granted before the person became employed with the department or before the institution became subject to the jurisdiction of the department; in the case of a supervisor or examiner, a consumer loan lawfully made prior to January 1, 1991, provided that while the debt is subject to the provisions of this chapter, the terms of the debt are not changed in favor of the debtor in a manner not offered and provided to other creditworthy borrowers or waived or extended as a result of delinquency or default; and a debt fully secured at all times by deposits in the institution; be indebted on an installment debt transferred to an institution under the jurisdiction of the department in the regular course of business by a seller of consumer goods; and continue to receive payments under a regularly established pension plan of general application for fully retired employees of an institution under the supervision of the department. Full disclosure in writing of any indebtedness incurred under Subsection (2) shall be filed in the commissioner's office. Any person who knowingly violates this section with the intention of getting gain through the influence of that person's office shall forfeit the office or employment and is guilty of a third degree felony.
Section 7-1-803Verify source
§ 7-1-803(1)Subsection 7-1-803(1)Provision

Source excerpt

The commissioner, supervisors, and examiners may not have certain financial or employment ties to institutions they supervise.

Neither the commissioner nor any supervisor or examiner may do any of the following with respect to any institution under the supervision of the department: be indebted, directly or indirectly, as a borrower, accommodation endorser, surety, or guarantor to an institution, or to an individual or any other legal or commercial entity owning or controlling an institution; be an officer, director, or employee of any institution or of an individual or any other legal or commercial entity owning or controlling an institution; own or deal in, directly or indirectly, the shares or obligations of an institution or of a corporation owning or controlling an institution; receive, directly or indirectly, from an institution or any officer, director, or employee of an institution, any salary, fee, or compensation; or be interested in or engage in the negotiations of any loan to, obligation of, or accommodation for another person to or with an institution.
Section 7-1-803(1)Verify source
§ 7-1-803(1)(a)Subsection 7-1-803(1)(a)Provision

Source excerpt

be indebted, directly or indirectly, as a borrower, accommodation endorser, surety, or guarantor to an institution, or to an individual or any other legal or commercial entity owning or controlling an institution;

be indebted, directly or indirectly, as a borrower, accommodation endorser, surety, or guarantor to an institution, or to an individual or any other legal or commercial entity owning or controlling an institution;
Section 7-1-803(1)(a)Verify source
§ 7-1-803(1)(b)Subsection 7-1-803(1)(b)Provision

Source excerpt

This provision describes a person as an officer, director, or employee of an institution, or of an individual or other legal or commercial entity that owns or controls an institution.

be an officer, director, or employee of any institution or of an individual or any other legal or commercial entity owning or controlling an institution;
Section 7-1-803(1)(b)Verify source
§ 7-1-803(1)(c)Subsection 7-1-803(1)(c)Provision

Source excerpt

own or deal in, directly or indirectly, the shares or obligations of an institution or of a corporation owning or controlling an institution;

own or deal in, directly or indirectly, the shares or obligations of an institution or of a corporation owning or controlling an institution;
Section 7-1-803(1)(c)Verify source
§ 7-1-803(1)(d)Subsection 7-1-803(1)(d)Provision

Source excerpt

receive, directly or indirectly, from an institution or any officer, director, or employee of an institution, any salary, fee, or compensation; or

receive, directly or indirectly, from an institution or any officer, director, or employee of an institution, any salary, fee, or compensation; or
Section 7-1-803(1)(d)Verify source
§ 7-1-803(1)(e)Subsection 7-1-803(1)(e)Provision

Source excerpt

be interested in or engage in the negotiations of any loan to, obligation of, or accommodation for another person to or with an institution.

be interested in or engage in the negotiations of any loan to, obligation of, or accommodation for another person to or with an institution.
Section 7-1-803(1)(e)Verify source
§ 7-1-803(2)Subsection 7-1-803(2)Provision

Source excerpt

The commissioner, supervisors, and examiners of the department may hold ordinary bank accounts or safe deposit boxes, incur certain debts on public terms, and keep receiving pension payments in the stated circumstances.

Notwithstanding Subsection (1) , the commissioner, any supervisor, or any examiner of the department may: have and maintain savings, transaction, share, time deposit, or other accounts, or certificates and deposits in any financial or depository institution in the state, or be a lessee of a safe deposit box on the same terms and conditions available to the public generally; be indebted to a depository institution under the supervision of the department on terms offered to the public generally upon: a mortgage loan upon the mortgagor's own home; an open or closed end consumer loan granted before the person became employed with the department or before the institution became subject to the jurisdiction of the department; in the case of a supervisor or examiner, a consumer loan lawfully made prior to January 1, 1991, provided that while the debt is subject to the provisions of this chapter, the terms of the debt are not changed in favor of the debtor in a manner not offered and provided to other creditworthy borrowers or waived or extended as a result of delinquency or default; and a debt fully secured at all times by deposits in the institution; be indebted on an installment debt transferred to an institution under the jurisdiction of the department in the regular course of business by a seller of consumer goods; and continue to receive payments under a regularly established pension plan of general application for fully retired employees of an institution under the supervision of the department.
Section 7-1-803(2)Verify source
§ 7-1-803(2)(a)Subsection 7-1-803(2)(a)Provision

Source excerpt

have and maintain savings, transaction, share, time deposit, or other accounts, or certificates and deposits in any financial or depository institution in the state, or be a lessee of a safe deposit box on the same terms and conditions

have and maintain savings, transaction, share, time deposit, or other accounts, or certificates and deposits in any financial or depository institution in the state, or be a lessee of a safe deposit box on the same terms and conditions available to the public generally;
Section 7-1-803(2)(a)Verify source
§ 7-1-803(2)(b)Subsection 7-1-803(2)(b)Provision

Source excerpt

A person may be indebted to a department-supervised depository institution on public terms only in specified situations.

be indebted to a depository institution under the supervision of the department on terms offered to the public generally upon: a mortgage loan upon the mortgagor's own home; an open or closed end consumer loan granted before the person became employed with the department or before the institution became subject to the jurisdiction of the department; in the case of a supervisor or examiner, a consumer loan lawfully made prior to January 1, 1991, provided that while the debt is subject to the provisions of this chapter, the terms of the debt are not changed in favor of the debtor in a manner not offered and provided to other creditworthy borrowers or waived or extended as a result of delinquency or default; and a debt fully secured at all times by deposits in the institution;
Section 7-1-803(2)(b)Verify source
§ 7-1-803(2)(b)(i)Subsection 7-1-803(2)(b)(i)Provision

Source excerpt

a mortgage loan upon the mortgagor's own home;

a mortgage loan upon the mortgagor's own home;
Section 7-1-803(2)(b)(i)Verify source
§ 7-1-803(2)(b)(ii)Subsection 7-1-803(2)(b)(ii)Provision

Source excerpt

This text refers to an open- or closed-end consumer loan granted before a person became employed with the department, or before the institution became subject to the department’s jurisdiction.

an open or closed end consumer loan granted before the person became employed with the department or before the institution became subject to the jurisdiction of the department;
Section 7-1-803(2)(b)(ii)Verify source
§ 7-1-803(2)(b)(iii)Subsection 7-1-803(2)(b)(iii)Provision

Source excerpt

For a supervisor or examiner, this covers a consumer loan made before January 1, 1991, so long as the debt is subject to this chapter and its terms are not changed in favor of the debtor in ways not offered to other creditworthy borrowers, or waived or extended because of delinquency or default.

in the case of a supervisor or examiner, a consumer loan lawfully made prior to January 1, 1991, provided that while the debt is subject to the provisions of this chapter, the terms of the debt are not changed in favor of the debtor in a manner not offered and provided to other creditworthy borrowers or waived or extended as a result of delinquency or default; and
Section 7-1-803(2)(b)(iii)Verify source
§ 7-1-803(2)(b)(iv)Subsection 7-1-803(2)(b)(iv)Provision

Source excerpt

a debt fully secured at all times by deposits in the institution;

a debt fully secured at all times by deposits in the institution;
Section 7-1-803(2)(b)(iv)Verify source
§ 7-1-803(2)(c)Subsection 7-1-803(2)(c)Provision

Source excerpt

be indebted on an installment debt transferred to an institution under the jurisdiction of the department in the regular course of business by a seller of consumer goods; and

be indebted on an installment debt transferred to an institution under the jurisdiction of the department in the regular course of business by a seller of consumer goods; and
Section 7-1-803(2)(c)Verify source
§ 7-1-803(2)(d)Subsection 7-1-803(2)(d)Provision

Source excerpt

Fully retired employees of an institution under the department’s supervision may continue to receive payments under a regularly established pension plan of general application.

continue to receive payments under a regularly established pension plan of general application for fully retired employees of an institution under the supervision of the department.
Section 7-1-803(2)(d)Verify source
§ 7-1-803(3)Subsection 7-1-803(3)Provision

Source excerpt

A person who incurs indebtedness under Subsection (2) must file a full written disclosure with the commissioner’s office.

Full disclosure in writing of any indebtedness incurred under Subsection (2) shall be filed in the commissioner's office.
Section 7-1-803(3)Verify source
§ 7-1-803(4)Subsection 7-1-803(4)Provision

Source excerpt

A person who knowingly violates this section to gain through the influence of their office forfeits the office or employment and commits a third degree felony.

Any person who knowingly violates this section with the intention of getting gain through the influence of that person's office shall forfeit the office or employment and is guilty of a third degree felony.
Section 7-1-803(4)Verify source

Legislative relationships

0 referenced instruments

Names are derived from the stored provision headings and citation-enrichment layer. Treat this as a research index and verify each relationship against the source text.

No structured legislative relationships were detected

The statute remains fully searchable by provision. Consult the source text for amendments and cross-references that have not yet been indexed.

Recorded versions and source checkpoint

1 version available in this collection

Current-law checkpoint
  • Undated version · currentEnglish · In force

This relationship view does not by itself establish whether another instrument remains in force.

Check official source

Source-linked research

Ask AI about this statute

The overview, provisions, and source records above are public. Continue in a separate conversation with this statute’s jurisdiction and source version attached.

About this LexChat collection

Statute information is organised from identified legislative sources for professional research. Corrections can be reported to hello@esheria.ai.