Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“An industrial bank may invest in property used in its own business, but those investments generally cannot exceed 50% of its total capital unless the commissioner approves a higher amount in writing.”
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
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.
An industrial bank may invest in property used in its own business, but those investments generally cannot exceed 50% of its total capital unless the commissioner approves a higher amount in writing.
Section 7-8-14
An industrial bank may invest in business-related premises, equipment, and other property if approved by the board of directors by resolution.
Section 7-8-14(1)
real property and any interest in real property, furniture, fixtures, and equipment for use in carrying on its own business; and
Section 7-8-14(1)(a)
the stock, bonds, debentures, or other obligations of any subsidiary or affiliate whose exclusive activity is the ownership and management of property used in conducting the industrial bank's business.
Section 7-8-14(1)(b)
These investments may not exceed 50% of the industrial bank’s total capital unless the commissioner approves a higher amount in writing.
Section 7-8-14(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.