# Utah H.B. 176: Trust Business Modifications Utah H.B. 176, Trust Business Modifications, is a 2026 General Session House bill sponsored by Anthony E. Loubet (Republican); status signed, last action 2026-03-18 (Governor Signed); PRIA reads it as touching household money (as of 2026-10-14). - Canonical: https://policyrisk.com/state-bill/UT-HB176-2026GS - As of: 2026-10-14 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Utah H.B. 176 - State: Utah - Session: 2026 General Session - Title: Trust Business Modifications - Status: signed - Chamber: House - Introduced: 2026-01-07 - Last action: 2026-03-18, Governor Signed - Sponsor: Anthony E. Loubet (Republican) - Cosponsors: 1 - Subjects: Business, Fiduciaries and Trusts, Division of Finance - Touches household money: yes - Roll calls: 8 (114 yes, 9 no in all) - Economic provisions PRIA read: 10 ## Summary No summary available. ## Bill overview: provisions PRIA read - Trust account details must stay private: benefit, low. Trust companies must keep communications and writings about agency and fiduciary accounts confidential. This covers an account’s existence, condition, management, and administration. Creditors and stockholders generally cannot obtain this information, though specified staff, auditors, attorneys, an… - Trust assets stay separate and protected: benefit, low. Trust companies must keep property held for others separate from company assets and keep separate transaction records. That property is protected from claims and debts against the company. Companies can register securities in a nominee’s name, but remain liable for the nominee’s acts involving thos… - Trust companies face audits and inspections: benefit, low. Trust companies must let the commissioner, appointed examiners, and appropriate regulators inspect required trust-business records. A board committee excluding active trust-department officers must audit the business at least once every 15 months. It can use auditors who answer only to the board, a… - Trust company reorganizations face ownership limits: cost, low. Authorized Utah trust companies have limited arrangements that qualify as reorganizations under the law. They can create a wholly owned subsidiary solely to conduct all or part of their trust business. They can also combine with a wholly owned trust-company subsidiary of themselves or their deposit… - Trust insider deals face safeguards: mixed, low. Trust companies cannot lend trust money to themselves or insiders without permission from the account document, an authorized person, or a court. An officer, director, or employee making or receiving a prohibited loan commits a third-degree felony. Buying company or insider investments, or trading… - Trust deposits get collateral with exceptions: mixed, low. Trust companies can deposit money held for others in their own banking departments or affiliated banks. Deposits above applicable federal insurance limits require collateral; affiliated-bank collateral must follow federal rules. An account’s creating document can expressly allow deposits without co… - Trust investments gain options and safeguards: mixed, low. Trust companies must invest or distribute account money promptly, following account terms, and avoid leaving it idle longer than reasonably necessary. Court-appointed accounts follow Utah trust-law investment and accounting rules unless their documents say otherwise; discretionary investments requi… - Trust company exits must protect accounts: mixed, low. A company seeking to leave trust business must prove it has been released from all trust duties and obligations. After permit revocation, it cannot conduct trust business or use “trust” in its name or business. The commissioner can seek revocation for unlawful or unsafe practices, permit or rule vi… - Trust helpers get exemptions and limits: mixed, low. Trust directors, protectors, advisors, similar helpers, and health-care decision surrogates are excluded from the definition of trust business. Beginning May 6, 2026, trust directors are also barred from conducting activities that do count as trust business. Covered court-supervised fiduciaries nee… - Who can provide Utah trust services: mixed, low. Beginning May 6, 2026, Utah defines a trust company as a person authorized to conduct trust business. Eligible providers remain limited to specified banks, related companies, and corporations operating lawfully and continuously since before July 1, 1981. Covered court- or law-appointed roles requir… ## Sponsors and cosponsors - Sponsor: Anthony E. Loubet (Republican), House - Cosponsor: Todd Weiler (Republican), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-03-06 | Senate | Senate/ passed 2nd & 3rd readings/ suspension | pass | 25 | 0 | | | 2026-03-03 | Senate | Senate Comm - Favorable Recommendation | pass | 6 | 0 | | | 2026-02-27 | House | House/ passed 3rd reading | pass | 65 | 1 | | | 2026-02-27 | House | House/ uncircled | fail | 0 | 0 | | | 2026-02-27 | House | House/ substituted | fail | 0 | 0 | | | 2026-02-24 | House | House/ circled | fail | 0 | 0 | | | 2026-02-18 | House | House Comm - Favorable Recommendation | pass | 8 | 5 | | | 2026-02-18 | House | House Comm - Substitute Recommendation | pass | 10 | 3 | | ## Actions (36) - 2026-03-18: Governor Signed - 2026-03-16: House/ to Governor (House) - 2026-03-16: House/ received enrolled bill from Printing (House) - 2026-03-12: House/ enrolled bill to Printing (House) - 2026-03-12: Enrolled Bill Returned to House or Senate - 2026-03-10: Draft of Enrolled Bill Prepared - 2026-03-10: Bill Received from House for Enrolling - 2026-03-06: House/ signed by Speaker/ sent for enrolling (House) - 2026-03-06: House/ received from Senate (House) - 2026-03-06: Senate/ to House (Senate) - 2026-03-06: Senate/ signed by President/ returned to House (Senate) - 2026-03-06: Senate/ passed 2nd & 3rd readings/ suspension (Senate) - 2026-03-06: Senate/ 2nd & 3rd readings/ suspension (Senate) - 2026-03-06: Senate/ Rules to 2nd Reading Calendar (Senate) - 2026-03-04: Senate/ 2nd Reading Calendar to Rules (Senate) - 2026-03-04: Senate/ placed on 2nd Reading Calendar (Senate) - 2026-03-04: Senate/ committee report favorable (Senate) - 2026-03-03: Senate Comm - Favorable Recommendation - 2026-02-27: Senate/ to standing committee (Senate) - 2026-02-27: Senate/ 1st reading (Introduced) (Senate) - 2026-02-27: Senate/ received from House (Senate) - 2026-02-27: House/ to Senate (House) - 2026-02-27: House/ passed 3rd reading (House) - 2026-02-27: House/ substituted (House) - 2026-02-27: House/ uncircled (House) - 2026-02-24: House/ circled (House) - 2026-02-24: House/ 3rd reading (House) - 2026-02-19: House/ 2nd reading (House) - 2026-02-19: House/ comm rpt/ substituted (House) - 2026-02-18: House Comm - Favorable Recommendation - 2026-02-18: House Comm - Substitute Recommendation - 2026-02-04: House Comm - Not Considered - 2026-01-28: House/ to standing committee (House) - 2026-01-20: House/ 1st reading (Introduced) (House) - 2026-01-14: House/ received bill from Legislative Research (House) - 2026-01-07: Numbered Bill Publicly Distributed ## Bill text - Enrolled, 2026-03-12: [PDF](https://le.utah.gov/Session/2026/bills/enrolled/HB0176.pdf) - Substitute #3, 2026-02-27: [PDF](https://le.utah.gov/Session/2026/bills/introduced/HB0176S03.pdf) - Substitute #2, 2026-02-25: [PDF](https://le.utah.gov/Session/2026/bills/introduced/HB0176S02.pdf) - Substitute #1, 2026-02-18: [PDF](https://le.utah.gov/Session/2026/bills/introduced/HB0176S01.pdf) - Introduced, 2026-01-07: [PDF](https://le.utah.gov/Session/2026/bills/introduced/HB0176.pdf) ## Related bills - H.B. 94: Criminal Accounts Receivable Amendments (signed) - H.B. 101: Firearm Background Check Amendments (signed) - H.B. 178: School Zone Speeding Amendments (signed) - H.B. 134: Offender Transfer Amendments (signed) - H.B. 136: Unlicensed Driver Amendments (signed) - H.B. 220: Public Safety Data Amendments (signed) ## Sources - [Enrolled (PDF)](https://le.utah.gov/Session/2026/bills/enrolled/HB0176.pdf) - [Substitute #3 (PDF)](https://le.utah.gov/Session/2026/bills/introduced/HB0176S03.pdf) - [Substitute #2 (PDF)](https://le.utah.gov/Session/2026/bills/introduced/HB0176S02.pdf) - [Substitute #1 (PDF)](https://le.utah.gov/Session/2026/bills/introduced/HB0176S01.pdf) - [Introduced (PDF)](https://le.utah.gov/Session/2026/bills/introduced/HB0176.pdf) ## Related - [H.B. 94: Criminal Accounts Receivable Amendments](https://policyrisk.com/state-bill/UT-HB94-2026GS) - [H.B. 101: Firearm Background Check Amendments](https://policyrisk.com/state-bill/UT-HB101-2026GS) - [H.B. 178: School Zone Speeding Amendments](https://policyrisk.com/state-bill/UT-HB178-2026GS) - [H.B. 134: Offender Transfer Amendments](https://policyrisk.com/state-bill/UT-HB134-2026GS) - [H.B. 136: Unlicensed Driver Amendments](https://policyrisk.com/state-bill/UT-HB136-2026GS) - [H.B. 220: Public Safety Data Amendments](https://policyrisk.com/state-bill/UT-HB220-2026GS) - [Utah bills](https://policyrisk.com/states/utah/bills) - [Utah state hub](https://policyrisk.com/states/utah) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/UT-HB176-2026GS (as of 2026-10-14).