# Utah Code § 7-1-103.5: Control

> Utah · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_103.5

## Section

- **Citation:** Utah Code § 7-1-103.5
- **Heading:** Control
- **Jurisdiction:** Utah
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Utah Code / Title 7 / Chapter 7-1 / § 7-1-103.5

## Text

(1) There is a rebuttable presumption that a person has control of a financial institution if the person has the power, directly or indirectly, or through or in concert with one or more persons, to vote more than 10% but less than 25% of any class of voting securities of a financial institution. (2) Except as provided in rule made under Subsection (3), a person seeking to rebut a presumption of control described in Subsection (1) shall submit an application to the commissioner. (3) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner may make rules that specify: (a) the procedures and requirements for an application described in Subsection (2); and (b) the conditions under which a person may obtain a determination that the person is not in control of a financial institution without filing an application in accordance with Subsection (2). (4) The commissioner has sole discretion to determine whether a person rebuts a presumption of control under this section.

## Nearby sections

- [Utah Code § 7-1-101 § 7-1-101. Title.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_101.md)
- [Utah Code § 7-1-102 § 7-1-102. Legislative findings, purpose, and intent.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_102.md)
- [Utah Code § 7-1-103 § 7-1-103. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_103.md)
- [Utah Code § 7-1-103.5 § 7-1-103.5. Control.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_103.5.md)
- [Utah Code § 7-1-104 § 7-1-104. Exemptions from application of title.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_104.md)
- [Utah Code § 7-1-105 § 7-1-105. Procedures -- Adjudicative proceedings.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_105.md)
- [Utah Code § 7-1-106 § 7-1-106. Venue for action or petition brought by commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_106.md)
- [Utah Code § 7-1-201 § 7-1-201. Creation of department -- Organization.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_201.md)
- [Utah Code § 7-1-202 § 7-1-202. Commissioner of financial institutions as executive officer -- Appointment -- Term -- Salary -- Qualifications.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_202.md)
- [Utah Code § 7-1-203 § 7-1-203. Board of Financial Institutions.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_203.md)
- [Utah Code § 7-1-204 § 7-1-204. Chief examiner -- Powers and duties.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_204.md)
- [Utah Code § 7-1-205 § 7-1-205. Supervisor of banks -- Responsibilities.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_205.md)
- [Utah Code § 7-1-207 § 7-1-207. Supervisor of industrial banks -- Responsibilities.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_207.md)
- [Utah Code § 7-1-208 § 7-1-208. Supervisor of credit unions -- Responsibilities.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_208.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_1_103.5. Check the current official text before relying on it. Not legal advice.