7-1-312. Reports required of large stockholders of financial institutions as to loans secured by stock.
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Effective 5/7/2025
7-1-312. Reports required of large stockholders of financial institutions as to loans secured by stock.
The commissioner may require any person owning or acquiring 25% or more of the outstanding capital stock of any depository institution subject to the commissioner's jurisdiction, or 25% or more of the stock of any corporation having control of the institution, to report to the commissioner any borrowing by that person which is secured by that stock and to report to the commissioner the terms of the borrowing. This section applies only if the purpose for the borrowing was to acquire control of the institution or any other depository institution.
Amended by Chapter 302 , 2025 General Session