Utah Code § 7-3-2
Restrictions on conduct of banking business
Utah · Utah Code Title 7 — Financial Institutions Act · Status: effective
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- Citation
- Utah Code § 7-3-2, Restrictions on conduct of banking business, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2324397
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Full 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:
(a) it is legitimately chartered as a bank by a state, the federal government, or a foreign government; and
(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.