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2025 Utah Code
Title 7 - Financial Institutions Act
Chapter 9 - Utah Credit Union Act
Section 33 - Lien and right of set off of credit union.
Universal Citation:
UT Code § 7-9-33 (2025)
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7-9-33. Lien and right of set off of credit union.
Amended by Chapter 182, 1996 General Session
- (1) A credit union shall have a lien and right of set off on a member's individual, joint, multiple party, or transaction accounts, including any accumulated dividend or interest, for any sum due the credit union from the member.
- (2) All funds in the account at any time are subject to the lien and right of set off.
- (3) A security interest in the funds shall be perfected by restricting withdrawals of the funds.
- (4) A lien under this section does not apply if:
- (a) the application of the lien will cause a loss of a tax incentive for the customer or member; or
- (b) is prohibited by law.
Amended by Chapter 182, 1996 General Session
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