State Codes and Statutes

Statutes > Utah > Title-16 > Chapter-13 > 16-13-11

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.

Amended by Chapter 378, 2010 General Session

State Codes and Statutes

Statutes > Utah > Title-16 > Chapter-13 > 16-13-11

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.

Amended by Chapter 378, 2010 General Session