# Utah Code § 7-2-4: Consent required for institution to resume business

> Utah · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_4

## Section

- **Citation:** Utah Code § 7-2-4
- **Heading:** Consent required for institution to resume business
- **Jurisdiction:** Utah
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Utah Code / Title 7 / Chapter 7-2 / § 7-2-4

## Text

The institution or other person may resume business only with the consent of and upon conditions approved by the commissioner. The commissioner may give the commissioner's consent to resumption of business if arrangements have been made by the institution or its stockholders, by reorganization or otherwise, to the satisfaction of the commissioner, to pay all creditors of the institution, aside from the stockholders, and to remedy the default or condition for which possession was taken and to pay the expenses of the proceeding.

## Nearby sections

- [Utah Code § 7-2-1 § 7-2-1. Supervisory actions by commissioner -- Grounds -- Mergers or acquisitions authorized by commissioner -- Possession of business and property taken by commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_1.md)
- [Utah Code § 7-2-2 § 7-2-2. Action to review the commissioner's actions -- Supervision of actions of commissioner in possession -- Authority of commissioner and court.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_2.md)
- [Utah Code § 7-2-3 § 7-2-3. Action for injunction against commissioner in possession -- Procedure -- Appeal.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_3.md)
- [Utah Code § 7-2-4 § 7-2-4. Consent required for institution to resume business.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_4.md)
- [Utah Code § 7-2-5 § 7-2-5. Appointment of receiver or assignment for creditors -- Notice required -- Commissioner taking possession.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_5.md)
- [Utah Code § 7-2-6 § 7-2-6. Possession by commissioner -- Notice -- Presentation, allowance, and disallowance of claims -- Objections to claims.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_6.md)
- [Utah Code § 7-2-7 § 7-2-7. Stay of proceedings against institution -- Relief.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_7.md)
- [Utah Code § 7-2-8 § 7-2-8. Special deputies or agents -- Appointment -- Bond.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_8.md)
- [Utah Code § 7-2-9 § 7-2-9. Conservatorship, receivership, or liquidation of institution -- Appointment of receiver -- Review of actions.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_9.md)
- [Utah Code § 7-2-10 § 7-2-10. Inventory of assets -- Listings of claims -- Report of proceedings -- Filing -- Inspection.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_10.md)
- [Utah Code § 7-2-11 § 7-2-11. Special counsel -- Employment by attorney general.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_11.md)
- [Utah Code § 7-2-12 § 7-2-12. Powers of commissioner in possession -- Sale of assets -- Postpossession financing -- New deposit instruments -- Executory contracts -- Transfer of property -- Avoidance of transfers -- Avoidable preferences -- Setoff.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_12.md)
- [Utah Code § 7-2-13 § 7-2-13. Collections in liquidation -- Deposit -- Preference.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_13.md)
- [Utah Code § 7-2-14 § 7-2-14. Expenses during possession.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_UT_T7_S7_2_4. Check the current official text before relying on it. Not legal advice.