Utah § 7-1-315 Examination by board of directors required -- Report.

Utah Statutes

§ 7-1-315 — Examination by board of directors required -- Report.

Utah § 7-1-315

Title 7Financial Institutions Act

Ch. 7-1General Provisions

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

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Bluebook

Utah Code Ann. § 7-1-315 (2026).

Text

The commissioner may at any time require the board of directors of any or all institutions under the commissioner's jurisdiction to fully examine or have fully examined the books, papers, and affairs of the institution of which they are directors and particularly the loans, discounts, and overdrafts of such institutions to ascertain the value and security thereof and the collateral security, if any, given in connection therewith and to inquire into such other matters as the commissioner may consider necessary and to have a report placed on file with the records of the institution, which report shall be subject to examination by the commissioner.

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The commissioner may at any time require the board of directors of any or all institutions under the commissioner's jurisdiction to fully examine or have fully examined the books, papers, and affairs of the institution of which they are directors and particularly the loans, discounts, and overdrafts of such institutions to ascertain the value and security thereof and the collateral security, if any, given in connection therewith and to inquire into such other matters as the commissioner may consider necessary and to have a report placed on file with the records of the institution, which report shall be subject to examination by the commissioner.