State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-01 > 7-1-801

7-1-801. False statement derogatory to financial condition of depository institutiona misdemeanor -- Exemptions.
(1) Any person who willfully and knowingly makes or circulates or transmits to anotherany statement or rumor, written, printed, or by word of mouth, which is untrue in fact and isdirectly or by inference derogatory to the financial condition or standing of any depositoryinstitution, or who knowingly counsels, aids, procures, or induces another to state, transmit, orcirculate any such statement or rumor, is guilty of a class B misdemeanor.
(2) Subsection (1) does not apply to the exchange of information between personnel ofthe department and the personnel of other regulatory and deposit insurance agencies in thedischarge of regulatory duties, which communications are considered absolutely privileged.

Amended by Chapter 200, 1994 General Session