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2016 Utah Code
Title 7 - Financial Institutions Act
Chapter 3 - Banks
Section 2 - Restrictions on conduct of banking business.

UT Code § 7-3-2 (2016) What's This?
7-3-2. Restrictions on conduct of banking business.
  • (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.


Amended by Chapter 49, 1995 General Session

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