Title 7 Chapter 9 Section 31
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Financial Institutions Act | |
Utah Credit Union Act | |
Section 31 | Shares held in trust. |
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7-9-31. Shares held in trust.
(1) Shares may be issued to and deposits received in the name of a minor, and these shares and deposits may, in the discretion of the board of directors, be withdrawn by the minor or by his parent or guardian. (2) A credit union share account, share certificate, deposit, or deposit certificate may be held in trust provided that the trustor, trustee, or primary beneficiary is a member of the credit union. (3) The trustee of the trust meeting the requirements of Subsection (2) shall exercise the rights of the trust as a member of the credit union. Amended by Chapter 182, 1996 General Session | |
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