Utah § 7-1-318 - Reports of condition -- Form -- Falsification or failure to file.

Full text of Utah Utah Code § 7-1-318 — Reports of condition -- Form -- Falsification or failure to file., with citation guidance and answers to common questions.

§ 7-1-318. Reports of condition -- Form -- Falsification or failure to file.

7-1-318.  Reports of condition -- Form -- Falsification or failure to file.
(1) Each institution under the jurisdiction of the department, including each out-of-state depository institution operating a branch in this state, shall provide a report of its condition to the department at least twice a year, as required by the commissioner. The commissioner may require an institution to provide more frequent reports as necessary.
(2) The report shall be made according to the form prescribed by the commissioner and shall be verified by the oath or affirmation of the president or a vice president and attested by at least two directors.
(3) It is a third degree felony for any officer, director, or employee of a financial institution to do any of the following:
(a) knowingly subscribe or cause to be made any false statement or report to the commissioner or department;
(b) knowingly subscribe or cause to be made any false entry in the books or accounts of the institution; or
(c) knowingly subscribe or exhibit false papers with intent to deceive any person authorized to examine the institution.
(4) Each institution that fails or neglects to make a report within 30 days after receiving a call for any report required by this title, by an order of the commissioner, or by any rule of the department is subject to a penalty of $50 a day for each day the report is past due. The commissioner may reduce or waive the penalty for good cause shown.
(5) It is criminal perjury for any officer or employee of a financial institution under the jurisdiction of the department to willfully swear falsely in making an oath or affirmation concerning a report of the institution's condition.
(6) For information purposes, and without being subject to penalties under state law, a federally chartered depository institution operating a main office or branch in this state shall provide to the department a copy of its regular report of condition filed with its chartering agency.


Amended by Chapter 49, 1995 General Session

Source: official Utah text · Last verified 2026-08-27

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Frequently Asked Questions About Utah § 7-1-318

What does Utah Code § 7-1-318 cover?

Section 7-1-318 ("Reports of condition -- Form -- Falsification or failure to file.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Utah § 7-1-318?

A common citation format is "Utah Code § 7-1-318" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Utah law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.

How does Utah § 7-1-318 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

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