Utah § 7-1-403 - Funds and balances paid to treasurer -- Separate account -- Use of funds.
Full text of Utah Utah Code § 7-1-403 — Funds and balances paid to treasurer -- Separate account -- Use of funds., with citation guidance and answers to common questions.
§ 7-1-403. Funds and balances paid to treasurer -- Separate account -- Use of funds.
7-1-403. Funds and balances paid to treasurer -- Separate account -- Use of funds.
| (1) | The commissioner shall deposit unexpended balances and money accruing to the department with the state treasurer monthly. The unexpended balances and money accruing to the department constitute a separate account within the General Fund. No part of the account may revert to the General Fund except an amount as required by law to be transferred for general government and administrative costs. |
| (2) | With the approval of the director of the Division of Finance, the commissioner may withdraw money from the account to pay costs and expenses of administration incurred in proceedings under Chapter 1, General Provisions, Chapter 2, Possession of Depository Institution by Commissioner, and Chapter 19, Acquisition of Failing Depository Institutions or Holding Companies, or to use in connection with the rehabilitation, reorganization, or liquidation of an institution under the jurisdiction of the department. |
| (3) | The commissioner, after consultation with the Board of Financial Institutions and with the approval of the director of the Division of Finance, may withdraw money from the account to promote, protect, and encourage the dual banking system and state-chartered institutions. |
Amended by Chapter 189, 2014 General Session
Amended by Chapter 345, 2014 General Session
Source: official Utah text · Last verified 2026-08-27
Frequently Asked Questions About Utah § 7-1-403
What does Utah Code § 7-1-403 cover?
Section 7-1-403 ("Funds and balances paid to treasurer -- Separate account -- Use of funds.") 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 § 7-1-403?
A common citation format is "Utah Code § 7-1-403" (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 § 7-1-403 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.