7-2-4 - Consent required for institution to resume business. - Utah Statutes

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Statutes > Utah > Title-07 > Chapter-02 > 7-2-4

7-2-4. Consent required for institution to resume business.
The institution or other person may resume business only with the consent of and uponconditions approved by the commissioner. The commissioner may give his consent to resumptionof business if arrangements have been made by the institution or its stockholders, byreorganization or otherwise, to the satisfaction of the commissioner, to pay all creditors of theinstitution, aside from the stockholders, and to remedy the default or condition for whichpossession was taken and to pay the expenses of the proceeding.

Amended by Chapter 8, 1983 General Session

State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-02 > 7-2-4

7-2-4. Consent required for institution to resume business.
The institution or other person may resume business only with the consent of and uponconditions approved by the commissioner. The commissioner may give his consent to resumptionof business if arrangements have been made by the institution or its stockholders, byreorganization or otherwise, to the satisfaction of the commissioner, to pay all creditors of theinstitution, aside from the stockholders, and to remedy the default or condition for whichpossession was taken and to pay the expenses of the proceeding.

Amended by Chapter 8, 1983 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-02 > 7-2-4

7-2-4. Consent required for institution to resume business.
The institution or other person may resume business only with the consent of and uponconditions approved by the commissioner. The commissioner may give his consent to resumptionof business if arrangements have been made by the institution or its stockholders, byreorganization or otherwise, to the satisfaction of the commissioner, to pay all creditors of theinstitution, aside from the stockholders, and to remedy the default or condition for whichpossession was taken and to pay the expenses of the proceeding.

Amended by Chapter 8, 1983 General Session