Utah § 7-3-2 Restrictions on conduct of banking business.

Utah Statutes

§ 7-3-2 — Restrictions on conduct of banking business.

Utah § 7-3-2

Title 7Financial Institutions Act

Ch. 7-3Banks

This text of Utah § 7-3-2 (Restrictions on conduct of banking 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. § 7-3-2 (2026).

Text

(1)The establishment or operation in this state of private or partnership banks is expressly prohibited.

(2)An institution may establish or maintain a main office or branch in this state at which to conduct banking business only if:

(2)(a) it is legitimately chartered as a bank by a state, the federal government, or a foreign government; and

(2)(b) in the case of a bank whose home state is not Utah, it is authorized to have a branch in Utah under the laws of this state and the laws of its home state.

Free access — add to your briefcase to read the full text and ask questions with AI

(1) The establishment or operation in this state of private or partnership banks is expressly prohibited.
(2) An institution may establish or maintain a main office or branch in this state at which to conduct banking business only if:

(2)(a) it is legitimately chartered as a bank by a state, the federal government, or a foreign government; and
(2)(b) in the case of a bank whose home state is not Utah, it is authorized to have a branch in Utah under the laws of this state and the laws of its home state.