Terms Used In Utah Code 7-9-28

  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
      The board of directors shall review and either approve or deny a loan application on which a member of the board of directors, credit committee, supervisory committee, president, or credit manager is a direct obligor, or endorser, cosigner, or guarantor.

Amended by Chapter 182, 1996 General Session