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UTAH STATUTES AND CODES
16-13-11 - Designation of depository.
16-13-11. Designation of depository.
A development corporation may not deposit any of its funds in any banking institutionunless such institution has been designated as a depository by a vote of a majority of the directorspresent at an authorized meeting of the board of directors, exclusive of any director who is anofficer or director of the depository so designated. A development corporation may not receivemoney on deposit.
A development corporation may not deposit any of its funds in any banking institutionunless such institution has been designated as a depository by a vote of a majority of the directorspresent at an authorized meeting of the board of directors, exclusive of any director who is anofficer or director of the depository so designated. A development corporation may not receivemoney on deposit.
Amended by Chapter 378, 2010 General Session
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