Utah Code 7-5-6. Confidentiality of communications and writings concerning trust — Actions to protect property or authorized under probate laws not precluded
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Terms Used In Utah Code 7-5-6
- Fiduciary: A trustee, executor, or administrator.
- Probate: Proving a will
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- Trust business: means , except as provided in Subsection (1)(c), a business in which one acts in any agency or fiduciary capacity, including that of personal representative, executor, administrator, conservator, guardian, assignee, receiver, depositary, or trustee under appointment as trustee for any purpose permitted by law, including the definition of "trust" set forth in Subsection 75-1-201(55). See Utah Code 7-5-1
- Trust company: means an institution authorized to engage in the trust business under this chapter. See Utah Code 7-5-1
- Writing: includes :Utah Code 68-3-12.5
Any trust company exercising the powers and performing the duties described in this chapter shall keep inviolate all communications and writings made to or by that trust company relating to the existence, condition, management or administration of any agency or fiduciary account confided to it and no creditor or stockholder of any such trust company shall be entitled to disclosure or knowledge of any such communication or writing, except that the directors, president, vice president, manager, treasurer, and trust officers, and any employees assigned to work on the trust business, and the attorney or auditor employed by it shall be entitled to knowledge of any such communication or writing and except that in any suit or proceeding relating to the existence, condition, management or administration of the account, the court in which the suit is pending may require disclosure of any such communication or writing. A trust company is not, however, precluded from filing an action in court to protect trust account property or as authorized under Title 75, Utah Uniform Probate Code.
Amended by Chapter 189, 2014 General Session