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Utah Code Title 7. Financial Institutions Act § 7-1-618. Deposit production offices prohibited

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Except as provided in Subsection (2), it is unlawful to establish or operate a deposit production office or similar office in this state for the purpose of soliciting deposits or similar evidence of indebtedness or participation interests in indebtedness.

(2) This prohibition does not apply to:

(a) activities conducted at a main office or branch of the depository institution conducting the activities; or

(b) activities conducted at the main office or branch of an affiliate depository institution acting as an agent to the extent permitted under Section 7-1-716.

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Cite this article: FindLaw.com - Utah Code Title 7. Financial Institutions Act § 7-1-618. Deposit production offices prohibited - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-7-financial-institutions-act/ut-code-sect-7-1-618/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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