Utah § 7-1-604 - Savings accounts -- Qualifications to hold -- Representation -- Transfer -- Holder treated as owner -- Exception.
Full text of Utah Utah Code § 7-1-604 — Savings accounts -- Qualifications to hold -- Representation -- Transfer -- Holder treated as owner -- Exception., with citation guidance and answers to common questions.
§ 7-1-604. Savings accounts -- Qualifications to hold -- Representation -- Transfer -- Holder treated as owner -- Exception.
7-1-604. Savings accounts -- Qualifications to hold -- Representation -- Transfer -- Holder treated as owner -- Exception.
| (1) | Savings accounts may be opened and held solely and absolutely by any adult or minor individual, male or female, single or married in the individual's own right or in trust or other fiduciary capacity for any such adult or minor. |
| (2) | Savings accounts shall be represented only by the account of each savings account holder on the books of the depository institution. |
| (3) | Savings accounts shall be transferable only on the books of the depository institution and only upon written application. Acceptance by the institution of the transferee as an account holder may only be upon terms approved by its board of directors. Nothing in this subsection shall be construed as prohibiting the transfer of part or all of the funds in a transaction account to a third party by means of checks, drafts, or other instruments or by electronic means. |
| (4) | The institution may treat the holder of record of a savings account as the owner of the account for all purposes and may disregard any notice to the contrary, unless the institution has acknowledged, in writing, notice of a pledge of the savings account. |
Amended by Chapter 302, 2025 General Session
Source: official Utah text · Last verified 2026-08-27
Frequently Asked Questions About Utah § 7-1-604
What does Utah Code § 7-1-604 cover?
Section 7-1-604 ("Savings accounts -- Qualifications to hold -- Representation -- Transfer -- Holder treated as owner -- Exception.") 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 § 7-1-604?
A common citation format is "Utah Code § 7-1-604" (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 § 7-1-604 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.