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·Title 7 Financial Institutions Act·Ch. 7-1 General Provisions·Part 7-1-3 Powers and Duties of Commissioner of Financial Institutions

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.

Utah § 7-1-312 (Reports required of large stockholders of financial institutions as to loans secured by stock.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.