Registration of investment in name of nominee -- Records -- Possession of investment.
Utah Code § 7-5-110
in effect7-5-110. Registration of investment in name of nominee -- Records -- Possession of investment.
(1) As used in this section, "security" means the same as that term is defined in Section 75-1-201.
(2) A trust company may require that a person register and hold a security that the trust company holds in the trust company's agency or fiduciary capacity in the name of a nominee or nominees of the trust company.
(3) The trust company is liable for the acts of a nominee described in Subsection (2) with respect to any investment registered in accordance with Subsection (2).
(4) An investment other than a security held in the name of a nominee on June 30, 1981, may continue to be held in that manner.
(5) For an investment described in Subsection (4), the trust company shall:
(a) at all times maintain records that show the trust company's ownership of an investment;
(b) maintain possession or control over the investment; and
(c) keep the investment separate and apart from the assets of the trust company.
Renumbered and Amended by Chapter 112, 2026 General Session
Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title7/Chapter5/7-5-S110.html?v=C7-5-S110_2026050620260506Fetched: 10/26/2026