Utah § 7-2-4 Consent required for institution to resume business.

Utah Statutes

§ 7-2-4 — Consent required for institution to resume business.

Utah § 7-2-4

Title 7Financial Institutions Act

Ch. 7-2Possession of Depository Institution by Commissioner

This text of Utah § 7-2-4 (Consent required for institution to resume business.) 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. § 7-2-4 (2026).

Text

The institution or other person may resume business only with the consent of and upon conditions approved by the commissioner. The commissioner may give the commissioner's consent to resumption of business if arrangements have been made by the institution or its stockholders, by reorganization or otherwise, to the satisfaction of the commissioner, to pay all creditors of the institution, aside from the stockholders, and to remedy the default or condition for which possession was taken and to pay the expenses of the proceeding.

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The institution or other person may resume business only with the consent of and upon conditions approved by the commissioner. The commissioner may give the commissioner's consent to resumption of business if arrangements have been made by the institution or its stockholders, by reorganization or otherwise, to the satisfaction of the commissioner, to pay all creditors of the institution, aside from the stockholders, and to remedy the default or condition for which possession was taken and to pay the expenses of the proceeding.