Utah Code § 7-1-312
Reports required of large stockholders of financial institutions as to loans secured by stock
Utah · Utah Code Title 7 — Financial Institutions Act · Status: effective
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- Citation
- Utah Code § 7-1-312, Reports required of large stockholders of financial institutions as to loans secured by stock, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2324293
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Full text
The commissioner may require any person owning or acquiring 25% or more of the outstanding capital stock of any depository institution subject to the commissioner's jurisdiction, or 25% or more of the stock of any corporation having control of the institution, to report to the commissioner any borrowing by that person which is secured by that stock and to report to the commissioner the terms of the borrowing. This section applies only if the purpose for the borrowing was to acquire control of the institution or any other depository institution.