Notwithstanding any provision of Title 7, Chapter 9, Utah Credit Union Act, or any other applicable statute requiring membership in the credit union by a borrower, a state or federally chartered credit union may make a loan to a developer or city of the first or second class of a qualified project and may request a deposit in accordance with Sections 51-12-201 and 51-12-202.
Utah Code § 51-12-204
Exception to credit union lending requirements
Amended by Chapter 391, 2025 General Session
Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.