Trust Business

  1. Law
  2. Utah Code
  3. Financial Institutions Act
  4. Trust Business

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Section
1

Definitions -- Allowable trust companies -- Exceptions.

Section
2

Permit required to engage in trust business -- Exceptions.

Section
3

Application for authorization to engage in trust business -- Criteria for granting -- Authority of trust company.

Section
4

Withdrawal from trust business.

Section
5

Revocation of trust authority -- Procedure.

Section
6

Confidentiality of communications and writings concerning trust -- Actions to protect property or authorized under probate laws not precluded.

Section
7

Management and investment of trust money.

Section
8

Segregation of trust assets -- Books and records required -- Examination -- Trust property not subject to claims or debts against trust company.

Section
9

Registration of investment in name of nominee -- Records -- Possession of investment.

Section
10

Lending trust funds to trust company, officer, director, or employee as felony.

Section
11

Self-dealing with trust property -- Own stock as trust property -- Policies for dealing with trust securities.

Section
12

Directors' audit of trust business -- Report available to commissioner or examiners -- Examinations in lieu of audit.

Section
13

Collective investment funds.

Section
14

Mergers, consolidations, acquisitions, transfers, or reorganizations involving entities engaged in trust business -- Succession of rights and duties -- Petition for appointment of another trust company.

Section
15

Assets of trust company in possession of the commissioner.