Utah § 7-9-31 - Shares held in trust.
Full text of Utah Utah Code § 7-9-31 — Shares held in trust., with citation guidance and answers to common questions.
§ 7-9-31. Shares held in trust.
7-9-31. Shares held in trust.
| (1) | Shares may be issued to and deposits received in the name of a minor, and these shares and deposits may, in the discretion of the board of directors, be withdrawn by the minor or by the minor's parent or guardian. |
| (2) | A credit union share account, share certificate, deposit, or deposit certificate may be held in trust provided that the trustor, trustee, or primary beneficiary is a member of the credit union. |
| (3) | The trustee of the trust meeting the requirements of Subsection (2) shall exercise the rights of the trust as a member of the credit union. |
Amended by Chapter 302, 2025 General Session
Frequently Asked Questions About Utah § 7-9-31
What does Utah Code § 7-9-31 cover?
Section 7-9-31 ("Shares held in trust.") 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 § 7-9-31?
A common citation format is "Utah Code § 7-9-31" (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 § 7-9-31 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.