7-22-109 - Priority of claims in case of insolvency. - Utah Statutes

State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-22 > 7-22-109

7-22-109. Priority of claims in case of insolvency.
If the commissioner takes possession of the business and property of the escrow agent inaccordance with Title 7, Chapter 2, Possession of Depository Institution by Commissioner, or ifthe escrow agent files or is involuntarily placed into bankruptcy, or if a receiver, conservator, orliquidator is appointed to administer the affairs of the escrow agent, the claims of persons forlosses relating to funds or property held in escrow shall have the same priority as claims ofdepositors in Section 7-2-15.

Enacted by Chapter 133, 1991 General Session

State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-22 > 7-22-109

7-22-109. Priority of claims in case of insolvency.
If the commissioner takes possession of the business and property of the escrow agent inaccordance with Title 7, Chapter 2, Possession of Depository Institution by Commissioner, or ifthe escrow agent files or is involuntarily placed into bankruptcy, or if a receiver, conservator, orliquidator is appointed to administer the affairs of the escrow agent, the claims of persons forlosses relating to funds or property held in escrow shall have the same priority as claims ofdepositors in Section 7-2-15.

Enacted by Chapter 133, 1991 General Session

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-22 > 7-22-109

7-22-109. Priority of claims in case of insolvency.
If the commissioner takes possession of the business and property of the escrow agent inaccordance with Title 7, Chapter 2, Possession of Depository Institution by Commissioner, or ifthe escrow agent files or is involuntarily placed into bankruptcy, or if a receiver, conservator, orliquidator is appointed to administer the affairs of the escrow agent, the claims of persons forlosses relating to funds or property held in escrow shall have the same priority as claims ofdepositors in Section 7-2-15.

Enacted by Chapter 133, 1991 General Session