Utah § 7-1-313 Requiring remedial action by institution in or about to be in unsound condition -- Assistance by insurers.

Utah Statutes

§ 7-1-313 — Requiring remedial action by institution in or about to be in unsound condition -- Assistance by insurers.

Utah § 7-1-313

Title 7Financial Institutions Act

Ch. 7-1General Provisions

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

This text of Utah § 7-1-313 (Requiring remedial action by institution in or about to be in unsound condition -- Assistance by insurers.) 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. § 7-1-313 (2026).

Text

(1)The commissioner may require any financial institution subject to the jurisdiction of the department that the commissioner finds to be or about to be in an unsafe or unsound condition to take corrective or remedial action as the commissioner considers appropriate to protect the interests of depositors, members, other creditors, and shareholders of the institution, and the general public.

(2)An insurer of the accounts of a financial institution may make loans to, purchase the assets of, establish accounts in, or provide other assistance to a financial institution in order to correct or remedy an unsafe or unsound condition or to protect the interests of depositors, members, other creditors, and shareholders of the institution. This assistance is subject to approval by the commissioner

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(1) The commissioner may require any financial institution subject to the jurisdiction of the department that the commissioner finds to be or about to be in an unsafe or unsound condition to take corrective or remedial action as the commissioner considers appropriate to protect the interests of depositors, members, other creditors, and shareholders of the institution, and the general public.
(2) An insurer of the accounts of a financial institution may make loans to, purchase the assets of, establish accounts in, or provide other assistance to a financial institution in order to correct or remedy an unsafe or unsound condition or to protect the interests of depositors, members, other creditors, and shareholders of the institution. This assistance is subject to approval by the commissioner.