Utah Admin. Code R590-170-4 - Establishing a Trust Account
(a) Each record relating to a trust account shall be identified with the wording "trust account" or wording similar to the term "trust account," including the term "premium fund account."
(b) A trust account record includes a:
(ii) bank statement;
(iii) general ledger; or
(iv) bank-retained record pertaining to the trust account.
(2) A licensee shall open a trust account with a Federal Employer Identification number or a Social Security number.
(a) A trust account shall be a separate and distinct account from the licensee's operating and personal accounts.
(b) The trust account shall have:
(i) a separate account number ;
(ii) a separate account register ; and
(iii) separate checks, deposit slips, and withdrawal slips.
(4) A person other than a licensee may be a signatory on a licensee's trust account only if that person:
(a) is an employee of the licensee; and
(b) has specific responsibility for the licensee's trust account.
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