Utah § 31A-22-105 Common control of fiduciary funds permissible.

Utah Statutes

§ 31A-22-105 — Common control of fiduciary funds permissible.

Utah § 31A-22-105

Title 31AInsurance Code

Ch. 31A-22Contracts in Specific Lines

Part 31A-22-1Contracts of Suretyship

This text of Utah § 31A-22-105 (Common control of fiduciary funds permissible.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 31A-22-105 (2026).

Text

Any fiduciary from whom a bond, undertaking, or other obligation is required may agree and arrange with the fiduciary's sureties for the deposit for safekeeping of any and all assets for which the fiduciary is responsible with a depository institution authorized by law to hold the assets, in a manner which prevents the withdrawal or alienation of any part of the property without the written consent of the sureties, or an order of the court made after notice is given to the sureties and a hearing is held as directed by the court.  This deposit agreement does not release or change the fiduciary responsibility of the principal, or the liability of the principal or sureties as established under the bond.

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Any fiduciary from whom a bond, undertaking, or other obligation is required may agree and arrange with the fiduciary's sureties for the deposit for safekeeping of any and all assets for which the fiduciary is responsible with a depository institution authorized by law to hold the assets, in a manner which prevents the withdrawal or alienation of any part of the property without the written consent of the sureties, or an order of the court made after notice is given to the sureties and a hearing is held as directed by the court. This deposit agreement does not release or change the fiduciary responsibility of the principal, or the liability of the principal or sureties as established under the bond.