Utah § 7-1-604 Savings accounts -- Qualifications to hold -- Representation -- Transfer -- Holder treated as owner -- Exception.

Utah Statutes

§ 7-1-604 — Savings accounts -- Qualifications to hold -- Representation -- Transfer -- Holder treated as owner -- Exception.

Utah § 7-1-604

Title 7Financial Institutions Act

Ch. 7-1General Provisions

Part 7-1-6Deposit Accounts

This text of Utah § 7-1-604 (Savings accounts -- Qualifications to hold -- Representation -- Transfer -- Holder treated as owner -- Exception.) 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. § 7-1-604 (2026).

Text

(1)Savings accounts may be opened and held solely and absolutely by any adult or minor individual, male or female, single or married in the individual's own right or in trust or other fiduciary capacity for any such adult or minor.

(2)Savings accounts shall be represented only by the account of each savings account holder on the books of the depository institution.

(3)Savings accounts shall be transferable only on the books of the depository institution and only upon written application. Acceptance by the institution of the transferee as an account holder may only be upon terms approved by its board of directors. Nothing in this subsection shall be construed as prohibiting the transfer of part or all of the funds in a transaction account to a third party by means of checks, drafts, or o

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(1) Savings accounts may be opened and held solely and absolutely by any adult or minor individual, male or female, single or married in the individual's own right or in trust or other fiduciary capacity for any such adult or minor.
(2) Savings accounts shall be represented only by the account of each savings account holder on the books of the depository institution.
(3) Savings accounts shall be transferable only on the books of the depository institution and only upon written application. Acceptance by the institution of the transferee as an account holder may only be upon terms approved by its board of directors. Nothing in this subsection shall be construed as prohibiting the transfer of part or all of the funds in a transaction account to a third party by means of checks, drafts, or other instruments or by electronic means.
(4) The institution may treat the holder of record of a savings account as the owner of the account for all purposes and may disregard any notice to the contrary, unless the institution has acknowledged, in writing, notice of a pledge of the savings account.