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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-3-10

Banks chartered under this chapter must be organized as specified, and the commissioner may define certain banking powers by rule or order.

Source excerpt

bank powersbankingbusiness activitiescharter requirementscorporate lawentity formationnational banksregulatory powers
Jurisdiction
United States — Utah
Status
In force
Dates
Source version 1 Oct 2026
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Enactment structure, operative effect and source provenance

Official source

01

Purpose and legislative effect

“Banks chartered under this chapter must be organized as specified, and the commissioner may define certain banking powers by rule or order.”

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02

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  1. 01

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    Source version 1 Oct 2026. The date shown identifies this source expression and should not be treated as proof that no later change exists.

  2. 02

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  3. 03

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  4. 04

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03

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Subsection 7-3-10(1)(b)

This text says the provision is subject to Section 7-1-810 and includes requirements about the bank’s status before becoming a limited liability company.

Section 7-3-10(1)(b)

Subsection 7-3-10(2)(a)

This applies if the bank is a corporation under Title 16, Chapter 10a, Utah Revised Business Corporation Act.

Section 7-3-10(2)(a)

Subsection 7-3-10(4)

The commissioner must implement this section consistently with the purposes in Section 7-1-102.

Section 7-3-10(4)

04

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In force source record

Source record from le.utah.gov · Source version 1 Oct 2026

In force

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Official record

Source-indexed provision map

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Showing 11 of 11 provisions

Provision 11
§ 7-3-10Organization -- Powers, rights, and privileges of banking corporation -- Other business activities.Provision

Source excerpt

Banks chartered under this chapter must be organized as specified, and the commissioner may define certain banking powers by rule or order.

Organization -- Powers, rights, and privileges of banking corporation -- Other business activities. A bank chartered under this chapter shall be: a domestic corporation under Title 16, Chapter 10a, Utah Revised Business Corporation Act ; or subject to Section 7-1-810 , including the requirement that the bank be an S Corporation immediately before becoming a limited liability company, a limited liability company created under Title 16, Chapter 20, Utah Revised Uniform Limited Liability Company Act. A bank has all the rights, privileges, and powers necessary or incidental to carrying on the business of banking in addition to the powers granted: if the bank is a corporation, under Title 16, Chapter 10a, Utah Revised Business Corporation Act ; or subject to Section 7-1-810 , if the bank is a limited liability company, under Title 16, Chapter 20, Utah Revised Uniform Limited Liability Company Act. The commissioner may, by rule or order, determine that necessary or incidental rights, privileges, and powers include: the rights, privileges, and powers held by national banks; or other business activities so long as the commissioner's determination is not inconsistent with the rules, regulations, or other actions of the board of governors of the Federal Reserve System under Section 4(c)(8) of the Bank Holding Company Act of 1956, 12 U.S.C. Sec. 1843(c)(8). The commissioner shall implement this section in a manner consistent with the purposes set forth in Section 7-1-102 .
Section 7-3-10Verify source
§ 7-3-10(1)Subsection 7-3-10(1)Provision

Source excerpt

A bank chartered under this chapter must be either a domestic corporation under the Utah Revised Business Corporation Act or, if subject to Section 7-1-810, a limited liability company under the Utah Revised Uniform Limited Liability Company Act.

A bank chartered under this chapter shall be: a domestic corporation under Title 16, Chapter 10a, Utah Revised Business Corporation Act ; or subject to Section 7-1-810 , including the requirement that the bank be an S Corporation immediately before becoming a limited liability company, a limited liability company created under Title 16, Chapter 20, Utah Revised Uniform Limited Liability Company Act.
Section 7-3-10(1)Verify source
§ 7-3-10(1)(a)Subsection 7-3-10(1)(a)Provision

Source excerpt

A domestic corporation under Title 16, Chapter 10a, Utah Revised Business Corporation Act.

a domestic corporation under Title 16, Chapter 10a, Utah Revised Business Corporation Act ; or
Section 7-3-10(1)(a)Verify source
§ 7-3-10(1)(b)Subsection 7-3-10(1)(b)Provision

Source excerpt

This text says the provision is subject to Section 7-1-810 and includes requirements about the bank’s status before becoming a limited liability company.

subject to Section 7-1-810 , including the requirement that the bank be an S Corporation immediately before becoming a limited liability company, a limited liability company created under Title 16, Chapter 20, Utah Revised Uniform Limited Liability Company Act.
Section 7-3-10(1)(b)Verify source
§ 7-3-10(2)Subsection 7-3-10(2)Provision

Source excerpt

A bank has all the rights, privileges, and powers necessary or incidental to carrying on the business of banking in addition to the powers granted: if the bank is a corporation, under Title 16, Chapter 10a, Utah Revised Business

A bank has all the rights, privileges, and powers necessary or incidental to carrying on the business of banking in addition to the powers granted: if the bank is a corporation, under Title 16, Chapter 10a, Utah Revised Business Corporation Act ; or subject to Section 7-1-810 , if the bank is a limited liability company, under Title 16, Chapter 20, Utah Revised Uniform Limited Liability Company Act.
Section 7-3-10(2)Verify source
§ 7-3-10(2)(a)Subsection 7-3-10(2)(a)Provision

Source excerpt

This applies if the bank is a corporation under Title 16, Chapter 10a, Utah Revised Business Corporation Act.

if the bank is a corporation, under Title 16, Chapter 10a, Utah Revised Business Corporation Act ; or
Section 7-3-10(2)(a)Verify source
§ 7-3-10(2)(b)Subsection 7-3-10(2)(b)Provision

Source excerpt

subject to Section 7-1-810 , if the bank is a limited liability company, under Title 16, Chapter 20, Utah Revised Uniform Limited Liability Company Act.

subject to Section 7-1-810 , if the bank is a limited liability company, under Title 16, Chapter 20, Utah Revised Uniform Limited Liability Company Act.
Section 7-3-10(2)(b)Verify source
§ 7-3-10(3)Subsection 7-3-10(3)Provision

Source excerpt

The commissioner may decide by rule or order what necessary or incidental rights, privileges, and powers include, including those of national banks or other business activities, if the decision is not inconsistent with Federal Reserve Board actions under the cited federal provision.

The commissioner may, by rule or order, determine that necessary or incidental rights, privileges, and powers include: the rights, privileges, and powers held by national banks; or other business activities so long as the commissioner's determination is not inconsistent with the rules, regulations, or other actions of the board of governors of the Federal Reserve System under Section 4(c)(8) of the Bank Holding Company Act of 1956, 12 U.S.C. Sec. 1843(c)(8).
Section 7-3-10(3)Verify source
§ 7-3-10(3)(a)Subsection 7-3-10(3)(a)Provision

Source excerpt

the rights, privileges, and powers held by national banks; or

the rights, privileges, and powers held by national banks; or
Section 7-3-10(3)(a)Verify source
§ 7-3-10(3)(b)Subsection 7-3-10(3)(b)Provision

Source excerpt

Other business activities are allowed only if the commissioner’s determination is not inconsistent with Federal Reserve Board rules, regulations, or other actions.

other business activities so long as the commissioner's determination is not inconsistent with the rules, regulations, or other actions of the board of governors of the Federal Reserve System under Section 4(c)(8) of the Bank Holding Company Act of 1956, 12 U.S.C. Sec. 1843(c)(8).
Section 7-3-10(3)(b)Verify source
§ 7-3-10(4)Subsection 7-3-10(4)Provision

Source excerpt

The commissioner must implement this section consistently with the purposes in Section 7-1-102.

The commissioner shall implement this section in a manner consistent with the purposes set forth in Section 7-1-102 .
Section 7-3-10(4)Verify source

Legislative relationships

1 referenced instrument

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.

A–F

1 instrument

  • Federal Reserve System under Section 4(c)(8) of the Bank Holding Company Act

    Sections 7-3-10, 7-3-10(3), 7-3-10(3)(b)

Recorded versions and source checkpoint

3 versions available in this collection

Current-law checkpoint
  • 1 Oct 2026 · currentEnglish · In force
  • 1 Oct 2026English · In forceView version
  • 1 Oct 2026English · In forceView version

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