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.

Amended by Chapter 391, 2025 General Session