7-1-901. Authorized insurance activities of depository institutions.
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7-1-901. Authorized insurance activities of depository institutions.
(1)A depository institution authorized to do business in this state under this title may directly, or indirectly through a subsidiary or affiliate, engage in the following insurance activities:
(a)engage in the insurance business as defined under Section 31A-1-301 except as may be limited by federal law;
(b)act as an insurance producer or consultant as defined under Section 31A-1-301 ; or
(c)engage in insurance adjusting as defined in Section 31A-26-102 .
(2)A depository institution, subsidiary, or affiliate, that engages in insurance activities authorized under Subsection
(1)shall be subject to Title 31A, Insurance Code .
Amended by Chapter 298 , 2003 General Session