Utah § 7-1-312 Reports required of large stockholders of financial institutions as to loans secured by stock.

Utah Statutes

§ 7-1-312 — Reports required of large stockholders of financial institutions as to loans secured by stock.

Utah § 7-1-312

Title 7Financial Institutions Act

Ch. 7-1General Provisions

Part 7-1-3Powers and Duties of Commissioner of Financial Institutions

This text of Utah § 7-1-312 (Reports required of large stockholders of financial institutions as to loans secured by stock.) 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. § 7-1-312 (2026).

Text

The commissioner may require any person owning or acquiring 25% or more of the outstanding capital stock of any depository institution subject to the commissioner's jurisdiction, or 25% or more of the stock of any corporation having control of the institution, to report to the commissioner any borrowing by that person which is secured by that stock and to report to the commissioner the terms of the borrowing. This section applies only if the purpose for the borrowing was to acquire control of the institution or any other depository institution.

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The commissioner may require any person owning or acquiring 25% or more of the outstanding capital stock of any depository institution subject to the commissioner's jurisdiction, or 25% or more of the stock of any corporation having control of the institution, to report to the commissioner any borrowing by that person which is secured by that stock and to report to the commissioner the terms of the borrowing. This section applies only if the purpose for the borrowing was to acquire control of the institution or any other depository institution.