7-3-21. Stock ownership by banks.
Any bank may purchase, own and hold, and sell or otherwise dispose of, any of the shares
of the capital stock of the Federal Deposit Insurance Corporation, the Federal Reserve Bank of
the Twelfth Federal Reserve District, the stock of any corporation or corporations organized
under the laws of the United States for purposes similar to those of the federal reserve banks or
the Federal Deposit Insurance Corporation, the Federal National Mortgage Association, the stock
of any safe deposit company, the stock of any corporation owning the banking house in which
any place of business of such bank is located, the stock of any bank service corporation
performing services for such bank, and the stock of such other corporation acquired by such bank
in satisfaction of or on account of debts previously contracted in the course of its business, and
may invest in small business investment companies to the same extent allowed federally chartered
banks. Unless expressly authorized by this chapter, a bank may not purchase or own the stock of
any other corporation except in a fiduciary capacity.
Enacted by Chapter 16, 1981 General Session
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Last revised: Thursday, May 28, 2009