Utah § 7-3-21 - Stock ownership by banks.

Full text of Utah Utah Code § 7-3-21 — Stock ownership by banks., with citation guidance and answers to common questions.

§ 7-3-21. Stock ownership by banks.

Effective 5/13/2014
7-3-21.  Stock ownership by banks.
(1) A bank may purchase, own and hold, and sell or otherwise dispose of:
(a) shares of the Federal Reserve Bank of the Twelfth Federal Reserve District;
(b) the stock of a corporation organized under the laws of the United States for purposes similar to those of the federal reserve banks or the Federal Deposit Insurance Corporation;
(c) shares of the Federal National Mortgage Association;
(d) the stock of a safe deposit company;
(e) the stock of a corporation owning the banking house in which any place of business of the bank is located;
(f) the stock of a bank service corporation performing services for the bank;
(g) the stock of a corporation acquired by the bank in satisfaction of or on account of debts previously contracted in the course of the bank's business;
(h) the stock of a foreign banking corporation;
(i) the stock of a corporation authorized under Title IX of the Housing and Urban Development Act of 1968;
(j) the stock of the Government National Mortgage Association authorized under 12 U.S.C. Sec. 1716 et seq.;
(k) the stock of a charitable foundation;
(l) the stock of a community development corporation;
(m) the stock of bankers' banks; and
(n) the stock of an agricultural credit corporation.
(2) A bank may invest in a small business investment company to the same extent allowed federally chartered banks.
(3) Unless expressly authorized by this chapter, a bank may not purchase or own the stock of any other corporation except in a fiduciary capacity.


Amended by Chapter 97, 2014 General Session

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

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Frequently Asked Questions About Utah § 7-3-21

What does Utah Code § 7-3-21 cover?

Section 7-3-21 ("Stock ownership by banks.") 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 § 7-3-21?

A common citation format is "Utah Code § 7-3-21" (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 § 7-3-21 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.