2006 Utah Code - 7-7-29 — Investment in service organizations, business development credit corporations and service corporations.

     7-7-29.   Investment in service organizations, business development credit corporations and service corporations.
     An association may invest in capital stock, obligations, or other securities of service organizations, and of business development credit corporations incorporated in this state, provided that the aggregate of those investments shall not exceed 10% of its assets; in capital stock, obligations, or other securities of any service corporation, provided that the aggregate of those investments shall not exceed 10% of its assets. The commissioner may, by regulation, allow investments in excess of those permitted by this section, if he finds that such investments promote the viability and stability of the associations of this state.

Amended by Chapter 8, 1983 General Session