Utah § 7-5-105 - Withdrawal from trust business.

Full text of Utah Utah Code § 7-5-105 — Withdrawal from trust business., with citation guidance and answers to common questions.

§ 7-5-105. Withdrawal from trust business.

Effective 5/6/2026
7-5-105.  Withdrawal from trust business.
(1)A trust company that desires to withdraw from and discontinue doing trust business shall furnish to the commissioner satisfactory evidence of the trust company's release and discharge from all the obligations and trusts the trust company undertakes.
(2)After the trust company provides the evidence required by Subsection (1) to the commissioner, the commissioner shall revoke the trust company's permit to engage in trust business in this state.
(3)After the commissioner revokes a trust company's permit in accordance with Subsection (2), the trust company may not:
(a)use the word "trust" in the trust company's corporate name or in connection with the trust company's business; or
(b)undertake the administration of any trust business.


Renumbered and Amended by Chapter 112, 2026 General Session

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

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Frequently Asked Questions About Utah § 7-5-105

What does Utah Code § 7-5-105 cover?

Section 7-5-105 ("Withdrawal from trust business.") 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 § 7-5-105?

A common citation format is "Utah Code § 7-5-105" (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 § 7-5-105 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

Not legal advice. Verify against the official source and consult a licensed attorney in Utah.