Utah Code § 7-1-313
This is the official text of Utah Code § 7-1-313, part of Utah’s Code — part of the compiled statutory law of Utah, published by the state as "Code." Browse the sections below, each linked to its official government source.
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§ 7-1-313. Requiring remedial action by institution in or about to be in unsound condition -- Assistance by insurers.
Official statutory text
(1) The commissioner may require any financial institution subject to the jurisdiction of the department that the commissioner finds to be or about to be in an unsafe or unsound condition to take corrective or remedial action as the commissioner considers appropriate to protect the interests of depositors, members, other creditors, and shareholders of the institution, and the general public. (2) An insurer of the accounts of a financial institution may make loans to, purchase the assets of, establish accounts in, or provide other assistance to a financial institution in order to correct or remedy an unsafe or unsound condition or to protect the interests of depositors, members, other creditors, and shareholders of the institution. This assistance is subject to approval by the commissioner.
Status: in_force · Read it on the official government site
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