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Designation of depository.

Utah Code § 16-13-11
in effect
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16-13-11. Designation of depository. A development corporation may not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated. A development corporation may not receive money on deposit. Amended by Chapter 378, 2010 General Session
Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title16/Chapter13/16-13-S11.html?v=C16-13-S11_1800010118000101Fetched: 10/26/2026

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