Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“A bank generally may not make certain investments or loans, including dealings tied to its premises, when the specified aggregate amount exceeds the stated capital limits; however, the commissioner may give prior written approval if the bank shows reasonable need.”
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02
How the instrument operates
- 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.
- 02
Locate the controlling provision
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- 03
Read conditions and exceptions together
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- 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.
A bank generally may not make certain investments or loans, including dealings tied to its premises, when the specified aggregate amount exceeds the stated capital limits; however, the commissioner may give prior written approval if the…
Section 7-3-12
A bank may not make the covered investment or loan if the stated aggregate amount exceeds the greater of the bank’s capital stock and surplus or 50% of its total capital accounts, except as provided in Subsection (2).
Section 7-3-12(1)(a)
This provision states a 50% threshold tied to the bank’s total capital accounts.
Section 7-3-12(1)(a)(ii)
invest in its own premises including furniture, fixtures and equipment, or in the stock, bonds, debentures, or other obligations of any corporation holding the premises of the bank; or
Section 7-3-12(1)(b)(i)
A bank may make an investment or loan prohibited under Subsection (1) with the prior written approval of the commissioner if the bank can demonstrate reasonable need for the investment or loan to the commissioner.
Section 7-3-12(2)
04
Source and current-law status
In force source record
Source record from le.utah.gov · Legal dates not recorded
This source records the instrument as in force. Confirm subsequent amendments, commencement notices, and judicial treatment before relying on it.