Utah § 7-1-618 Deposit production offices prohibited.

Utah Statutes

§ 7-1-618 — Deposit production offices prohibited.

Utah·Title 7 Financial Institutions Act·Ch. 7-1 General Provisions·Part 7-1-6 Deposit Accounts

(1)Except as provided in Subsection (2), it is unlawful to establish or operate a deposit production office or similar office in this state for the purpose of soliciting deposits or similar evidence of indebtedness or participation interests in indebtedness.

(2)This prohibition does not apply to:

(2)(a) activities conducted at a main office or branch of the depository institution conducting the activities; or

(2)(b) activities conducted at the main office or branch of an affiliate depository institution acting as an agent to the extent permitted under Section 7-1-716.

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(1) Except as provided in Subsection (2), it is unlawful to establish or operate a deposit production office or similar office in this state for the purpose of soliciting deposits or similar evidence of indebtedness or participation interests in indebtedness.
(2) This prohibition does not apply to:

(2)(a) activities conducted at a main office or branch of the depository institution conducting the activities; or
(2)(b) activities conducted at the main office or branch of an affiliate depository institution acting as an agent to the extent permitted under Section 7-1-716.

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