7-23-103.1. Exemptions.
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/ut/title-7/chapter-23/7-23-103-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
7-23-103.1. Exemptions.
The following are not subject to the requirements of this chapter:
(1)a depository institution;
(2)a depository institution holding company;
(3)an institution directly or indirectly owned or controlled by one or more:
(a)depository institutions; or
(b)depository institution holding companies; or
(4)a person that cashes a check in a transaction:
(a)that is incidental to a retail sale of goods or services; and
(b)for consideration that does not exceed the greater of:
(i)1% of the amount of the check; or
(ii)$1.
Renumbered and Amended by Chapter 96 , 2008 General Session