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AMERICA FIRST v. DEPT. OF FIN. INSTITUTIONS

No. 20000965-CA.

33 P.3d 390 (2001)

2001 UT App 272

AMERICA FIRST CREDIT UNION, Petitioner and Appellant, v. DEPARTMENT OF FINANCIAL INSTITUTIONS, G. Edward Leary, Commissioner, Respondent and Appellee.

Court of Appeals of Utah.

September 20, 2001.

Attorney(s) appearing for the Case

Thomas T. Billings, Timothy W. Blackburn, and Mary E. Westby, Van Cott Bagley Cornwall & McCarthy, Salt Lake City, for Appellant.

Mark L. Shurtleff, Attorney General, and Perri Ann Babalis, Assistant Attorney General, Salt Lake City, for Appellee.

Before BENCH, DAVIS, and ORME, JJ.

OPINION

BENCH, Judge:

¶ 1 Appellant (America First) challenges the district court's conclusion that Utah Code Ann. § 7-9-20(7) (Supp.2000) precludes America First from participating in a loan to a nonmember. We affirm.

BACKGROUND

¶ 2 Holladay Bank originated a commercial loan to one of its customers in the amount of $1,312,500. America First agreed to participate in the loan, even though the borrower was not a member of the...

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