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UTAH STATUTES AND CODES
7-1-618 - Deposit production offices prohibited.
7-1-618. Deposit production offices prohibited.
(1) Except as provided in Subsection (2), it is unlawful to establish or operate a depositproduction office or similar office in this state for the purpose of soliciting deposits or similarevidence of indebtedness or participation interests in indebtedness.
(2) This prohibition does not apply to:
(a) activities conducted at a main office or branch of the depository institution conductingthe activities; or
(b) activities conducted at the main office or branch of an affiliate depository institutionacting as an agent to the extent permitted under Section 7-1-716.
(1) Except as provided in Subsection (2), it is unlawful to establish or operate a depositproduction office or similar office in this state for the purpose of soliciting deposits or similarevidence of indebtedness or participation interests in indebtedness.
(2) This prohibition does not apply to:
(a) activities conducted at a main office or branch of the depository institution conductingthe activities; or
(b) activities conducted at the main office or branch of an affiliate depository institutionacting as an agent to the extent permitted under Section 7-1-716.
Enacted by Chapter 49, 1995 General Session
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