Utah § 7-1-104 - Exemptions from application of title.

Full text of Utah Utah Code § 7-1-104 — Exemptions from application of title., with citation guidance and answers to common questions.

§ 7-1-104. Exemptions from application of title.

7-1-104.  Exemptions from application of title.
(1) This title does not apply to:
(a) investment companies registered under the Investment Company Act of 1940, 15 U.S.C. Sec. 80a-1 et seq.;
(b) securities brokers and dealers registered pursuant to:
(i)Title 61, Chapter 1, Utah Uniform Securities Act; or
(ii) the federal Securities Exchange Act of 1934, 15 U.S.C. Sec. 78a et seq.;
(c) depository or other institutions performing transaction account services, including third party transactions, in connection with:
(i) the purchase and redemption of investment company shares; or
(ii) access to a margin or cash securities account maintained by a person identified in Subsection (1)(b); or
(d) insurance companies selling interests in an investment company or "separate account" and subject to regulation by the Utah Insurance Department.
(2)
(a) An institution, organization, or person is not exempt from this title if, within this state, it holds itself out to the public as receiving and holding deposits from residents of this state, whether evidenced by a certificate, promissory note, or otherwise.
(b) An investment company is not exempt from this title unless the investment company is registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940, 15 U.S.C. Sec. 80a-1 et seq., and is advised by an investment adviser:
(i) which is registered with the United States Securities and Exchange Commission under the Investment Advisers Act of 1940, 15 U.S.C. Sec. 80b-1 et seq.; and
(ii) which advises investment companies and other accounts with a combined value of at least $50,000,000.


Amended by Chapter 356, 2009 General Session

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

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Frequently Asked Questions About Utah § 7-1-104

What does Utah Code § 7-1-104 cover?

Section 7-1-104 ("Exemptions from application of title.") 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 § 7-1-104?

A common citation format is "Utah Code § 7-1-104" (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 § 7-1-104 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.