Utah statute
Utah Code Ann. § 76-6-512 — Acceptance of deposit by insolvent financial institution.
Current through 2026 General Session
Part of Part 5: Fraud, Utah Code.
Criminal charges under this statute
Full text of Utah Code Ann. § 76-6-512
Statutory text current through the 2026 General Session. This publication reproduces the official statutory text; it is not the official statutes of the State of Utah.
(1)(a) As used in this section, "financial institution" means the same as that term is defined in Section 7-1-103. (1)(b) Terms defined in Section 76-1-101.5 apply to this section. (2) An actor commits acceptance of a deposit by an insolvent financial institution if: (2)(a) as an officer, manager, or other person participating in the direction of a financial institution, as defined in Section 7-1-103, the actor receives or permits receipt of a deposit or other investment knowing that the institution is or is about to become unable, from any cause, to pay its obligations in the ordinary course of business; and (2)(b) the actor knows that the person making the payment to the institution is unaware of such present or prospective inability. (3) A violation of Subsection (2) is a third degree felony. (4) This section may not be construed to impose criminal or civil liability on any law enforcement officer acting within the scope of a criminal investigation. (5) The forfeiture of property under this section, including any seizure and disposition of the property and any related judicial or administrative proceeding, shall be conducted in accordance with Title 77, Chapter 11a, Seizure of Property and Contraband, through Chapter 11c, Retention of Evidence.
Official sources
Legal terms used in this section
Questions this section answers
Is acceptance of deposit by insolvent financial institution a felony or a misdemeanor in Utah?
Acceptance of deposit by insolvent financial institution is a Third Degree Felony in Utah under Utah Code Ann. § 76-6-512.
Which Utah statute covers acceptance of deposit by insolvent financial institution?
Acceptance of deposit by insolvent financial institution is governed by Utah Code Ann. § 76-6-512 (Acceptance of deposit by insolvent financial institution).
This reference is informational and is not legal advice.