Utah HB0176 modifies trust business regulations, including definitions, reorganizations, and exemptions.

Utah HB0176 reorganizes and renumbers sections of Title 7, Chapter 5, Trust Business. It defines terms such as "business trust" and "trust company," and exempts certain entities from the definition of trust business. The bill prohibits trust directors from engaging in trust business and exempts attorneys and certified public accountants from the definition of trust business if their fiduciary services are incidental to their primary business. It also modifies requirements for trust companies, including audits, investment policies, and restrictions on lending to officers and directors.

Utah HB0176 modifies trust business regulations, including definitions, reorganizations, and exemptions.

Utah HB0176 reorganizes and renumbers sections of Title 7, Chapter 5, Trust Business. It defines terms such as "business trust" and "trust company," and exempts certain entities from the definition of trust business. The bill prohibits trust directors from engaging in trust business and exempts attorneys and certified public accountants from the definition of trust business if their fiduciary services are incidental to their primary business. It also modifies requirements for trust companies, including audits, investment policies, and restrictions on lending to officers and directors.