Utah § 7-5-10 Lending trust funds to trust company, officer, director, or employee as felony.

Utah Statutes

§ 7-5-10 — Lending trust funds to trust company, officer, director, or employee as felony.

Utah § 7-5-10

Title 7Financial Institutions Act

Ch. 7-5Trust Business

This text of Utah § 7-5-10 (Lending trust funds to trust company, officer, director, or employee as felony.) 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. § 7-5-10 (2026).

Text

(1)Unless expressly permitted in the instrument creating a trust account or by a person authorized to give that permission or by a court order as permitted in Section 75B-2-802, a trust company may not lend to itself or to any officer or director or employee of the trust company any funds held in any trust account under the powers conferred in this chapter.

(2)Any officer, director or employee making such a loan, or to whom such a loan is made, is guilty of a third degree felony.

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

(1) Unless expressly permitted in the instrument creating a trust account or by a person authorized to give that permission or by a court order as permitted in Section 75B-2-802, a trust company may not lend to itself or to any officer or director or employee of the trust company any funds held in any trust account under the powers conferred in this chapter.
(2) Any officer, director or employee making such a loan, or to whom such a loan is made, is guilty of a third degree felony.