Utah Code § 7-3-2: Restrictions on conduct of banking business.

(1) The establishment or operation in this state of private or partnership banks is expressly prohibited.

(2) An institution may establish or maintain a main office or branch in this state at which to conduct banking business only if:

(a) it is legitimately chartered as a bank by a state, the federal government, or a foreign government; and

(b) in the case of a bank whose home state is not Utah, it is authorized to have a branch in Utah under the laws of this state and the laws of its home state.