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2011 Utah Code
Title 7 Financial Institutions Act
Chapter 7 Savings and Loan Associations Act
Section 16 Depositories used by associations.

7-7-16. Depositories used by associations.
No association shall deposit any of its funds except with a depository approved by a vote of the directors of the association, any director who is an officer, partner, director, or trustee of the depository so designated taking no part in the vote.

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