Utah Admin. Code 337-8-2
Current through Bulletin 2024-23, December 1, 2024
A state chartered credit union may open a share, draft, certificate or loan account in the name of a party other than an individual member if all equity owners or, in the case of an association or cooperative, all members of the entity are within the credit union's field of membership as defined in the credit union's bylaws if the bylaws have been approved by the Commissioner of Financial Institutions. Loans to an entity other than an individual member may not exceed the entity's unencumbered shares or deposits, or both.
Utah Admin. Code R337-8-2