Utah Code § 7-8-20

(1) Except as provided in this section, the total loans and extensions of credit, including credit exposure to a derivative transaction, by an industrial bank to a person outstanding at any one time may not exceed 15% of the industrial bank's total capital. (2) Subsection (1) does not apply to an extension of credit that is subject to, or expressly exempted from, a federal statute or federal regulation limiting the amount of total loans and credit that may be extended to any person or group of persons. (3) The commissioner may by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act: (a) exempt from Subsection (1) a class of loans or class of extensions of credit, including credit exposure to a derivative transaction, that are adequately secured or are not otherwise a risk to the safe and sound operation of an industrial bank; (b) define terms and phrases necessary to interpret and implement this section; (c) adopt standards for aggregating or segregating loans to the same or different persons; (d) describe records required to be maintained; (e) require specific actions to be taken by an institution's board of directors or executive officers; and (f) prescribe other actions necessary to interpret and implement this section.