{"data":{"id":"us-ut/utah-code-16-13-11","jurisdiction":"us-ut","citation":"Utah Code § 16-13-11","heading":"Designation of depository.","body":"A development corporation may not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated. A development corporation may not receive money on deposit.","path":["Title 16 Corporations","Chapter 16-13 Business Development Corporations"],"source_url":"https://le.utah.gov/xcode/Title16/Chapter13/16-13-S11.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"9123f0338b29e89913fe8c388c25419d21b3f037fc8155c46ed71fea928bd829","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-16-13-10","next":"us-ut/utah-code-16-13-12"},"notice":"GroundRules: Original legal text. Not legal advice."}