{"data":{"id":"us-ut/utah-code-7-5-111","jurisdiction":"us-ut","citation":"Utah Code § 7-5-111","heading":"Lending trust funds to trust company, officer, director, or employee a felony.","body":"(1) Except as provided in Subsection (2), a trust company may not lend funds that the trust company holds in a trust account in accordance with this chapter to:\n(a) the trust company;\n(b) an officer of the trust company;\n(c) a director of the trust company; or\n(d) an employee of the trust company.\n(2) A trust company may lend funds to a person described in Subsection (1) if:\n(a) the instrument creating a trust account authorizes the trust company to lend funds to the person;\n(b) a person authorized to grant authorization to the trust company to lend funds to the person grants authorization; or\n(c) a court issues an order in accordance with Section 75B-2-802.\n(3) An officer, a director, or an employee is guilty of a third degree felony if the officer, director, or employee:\n(a) makes a loan in violation of Subsection (1); or\n(b) receives a loan that violates Subsection (1).","path":["Title 7 Financial Institutions Act","Chapter 7-5 Trust Business","Part 7-5-1 General Provisions"],"source_url":"https://le.utah.gov/xcode/Title7/Chapter5/7-5-S111.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"9dbf4868feb5c64b41c510afbbcfb3eecbf8c332a1c0e22b64a183e7618739b0","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-7-5-110","next":"us-ut/utah-code-7-5-112"},"notice":"GroundRules: Original legal text. Not legal advice."}