7-1-312 - Reports required of large stockholders of financial institutions as to loans secured by stock. - Utah Statutes

7-1-312. Reports required of large stockholders of financial institutions as to loanssecured by stock.
The commissioner may require any person owning or acquiring 25% or more of theoutstanding capital stock of any depository institution subject to his jurisdiction, or 25% or moreof the stock of any corporation having control of the institution, to report to him any borrowing bythat person which is secured by that stock and to report to him the terms of the borrowing. Thissection applies only if the purpose for the borrowing was to acquire control of the institution orany other depository institution.

Enacted by Chapter 16, 1981 General Session