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2025 Utah Code
Title 7 - Financial Institutions Act
Chapter 5 - Trust Business
Section 4 - Withdrawal from trust business.
Universal Citation:
UT Code § 7-5-4 (2025)
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7-5-4. Withdrawal from trust business.
Any trust company which desires to withdraw from and discontinue doing a trust business shall furnish to the commissioner satisfactory evidence of its release and discharge from all the obligations and trusts undertaken by it, and after the company has furnished that evidence the commissioner shall revoke his certificate of authority to do a trust business previously issued to that trust company, and thereafter that trust company may not be permitted to use and may not use the word "trust" in its corporate name or in connection with its business, nor undertake the administration of any trust business.
Amended by Chapter 378, 2010 General Session
Any trust company which desires to withdraw from and discontinue doing a trust business shall furnish to the commissioner satisfactory evidence of its release and discharge from all the obligations and trusts undertaken by it, and after the company has furnished that evidence the commissioner shall revoke his certificate of authority to do a trust business previously issued to that trust company, and thereafter that trust company may not be permitted to use and may not use the word "trust" in its corporate name or in connection with its business, nor undertake the administration of any trust business.
Amended by Chapter 378, 2010 General Session
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