There is a newer version of the Utah Code
2011 Utah Code
Title 7 Financial Institutions Act
Chapter 1 General Provisions
- Section 101 Title.
- Section 102 Legislative findings, purpose, and intent.
- Section 103 Definitions.
- Section 104 Exemptions from application of title.
- Section 105 Procedures -- Adjudicative proceedings.
- Section 201 Creation of department -- Organization.
- Section 202 Commissioner of financial institutions as executive officer -- Appointment -- Term -- Salary -- Qualifications.
- Section 203 Board of Financial Institutions.
- Section 204 Chief examiner -- Powers and duties.
- Section 205 Supervisor of banks -- Responsibilities.
- Section 206 Supervisor of savings and loan associations -- Responsibilities.
- Section 207 Supervisor of industrial banks -- Responsibilities.
- Section 208 Supervisor of credit unions -- Responsibilities.
- Section 208.1 Supervisor of trusts -- Qualifications -- Responsibilities.
- Section 208.2 Deputy commissioner.
- Section 209 Additional supervisors, examiners, and other personnel -- Compensation -- Travel expenses.
- Section 210 Records of department required.
- Section 211 Reports of commissioner to governor and Legislature.
- Section 301 Powers and duties of commissioner -- Rulemaking.
- Section 302 Review of supervisor's action by commissioner.
- Section 303 Joint operations and information exchange by institutions.
- Section 304 Civil actions against unauthorized operations.
- Section 305 Final decisions on applications for new institutions, branches, relocation, merger, consolidation, acquisition and changes in control of financial institutions.
- Section 307 Cease and desist orders -- Procedure for issuance.
- Section 308 Suspension or removal of director or officer -- Grounds -- Procedure for issuance of order.
- Section 309 Hearings by commissioner -- Discretion of commissioner -- Procedure -- Judicial review.
- Section 310 Subpoena power of commissioner.
- Section 311 Moratoriums on applications for new depository institutions or branches.
- Section 312 Reports required of large stockholders of financial institutions as to loans secured by stock.
- Section 313 Requiring remedial action by institution in or about to be in unsound condition -- Assistance by insurers.
- Section 314 Examination of institutions by commissioner or supervisor.
- Section 315 Examination by board of directors required -- Report.
- Section 316 Forms for reports required from institutions.
- Section 317 Reports of condition called for by commissioner.
- Section 318 Reports of condition -- Form -- Falsification or failure to file.
- Section 319 Notice to county attorney or district attorney of criminal violations -- Attorney general to conduct actions commenced by commissioner -- Assistance of county attorney or district attorney.
- Section 320 Actions to enjoin violations -- Bond not required -- Recovery -- Attorney's fees.
- Section 321 Powers and duties of commissioner to carry out purposes of title.
- Section 322 Orders of commissioner -- Writing -- Service -- Contents -- Enforcement.
- Section 323 Regulation of interstate operations -- Coordination of efforts.
- Section 324 Debt cancellation agreements and debt suspension agreements.
- Section 325 Compliance with applicable federal law.
- Section 401 Fees payable to commissioner.
- Section 402 Time for payment of fees -- Schedule of additional fees -- Revocation of permit or license for failure to pay fees.
- Section 403 Funds and balances paid to treasurer -- Separate account -- Use of funds.
- Section 501 Institutions and persons subject to jurisdiction of department.
- Section 502 Limitations on jurisdiction of department.
- Section 503 Regulation of sale by financial institution of its securities -- Solicitation of deposit accounts restricted -- Violations.
- Section 505 Rules and regulations governing persons or institutions not regulated under other chapters of title.
- Section 507 Assessing institution's record in meeting credit needs -- Requirements -- Remedial order.
- Section 508 Conviction for fraud or dishonest conduct as disqualification to serve as officer, director or employee or to take control of a depository institution -- Violation as misdemeanor.
- Section 510 Examination of institutions -- Adoption of rules -- Requiring actions by institutions.
- Section 601 Adverse claim to account in depository institution -- Notice required -- Bond may be required for payment.
- Section 602 Final settlement of transaction account -- Limitation of action on accuracy of statement -- Duty to examine statement and notify of errors unaffected.
- Section 603 Final settlement of savings account -- Limitation of action on accuracy of statement.
- Section 604 Savings accounts -- Qualifications to hold -- Representation -- Transfer -- Holder treated as owner -- Exception.
- Section 605 Savings accounts -- Special terms to be in writing.
- Section 606 Savings accounts and credit union share accounts -- Form of ownership certificate.
- Section 607 Lost or destroyed account book or certificate.
- Section 608 School or institutional savings plans authorized.
- Section 609 Payroll deduction savings -- Direct deposit of wages.
- Section 610 Attorney-in-fact as to savings account -- Institution immune from liability.
- Section 611 Deposit accounts of minors or married persons.
- Section 612 Pledge or hypothecation of joint savings accounts.
- Section 613 Incompetency of savings account owner.
- Section 616 Authority to accept transaction accounts -- Payment of instruments.
- Section 617 No concentration limit under state law.
- Section 618 Deposit production offices prohibited.
- Section 701 Representation and transacting business as financial institution restricted -- Restricted names -- Penalty.
- Section 702 Interstate acquisition, merger, and branching.
- Section 703 Restrictions on acquisition of institutions and holding companies -- Enforcement.
- Section 704 Authorization required to engage in business -- Exemptions -- Procedure.
- Section 705 Approval required for certain transactions -- Application -- Grounds for disapproval.
- Section 706 Application to commissioner to exercise power -- Procedure.
- Section 708 Establishing branches and relocating offices -- Application and procedure for approval -- Nonexempt credit unions.
- Section 709 Branches -- Discontinuance of operation.
- Section 710 "Agency" defined -- Purposes and establishment of agency.
- Section 711 Mobile facilities -- Approval required for operation.
- Section 712 Acquisition of office of another financial institution.
- Section 713 Conversion of financial institution -- Approval required -- Procedure -- Federal-state conversion.
- Section 714 Judicial review of acts of commissioner -- Hearing by court.
- Section 715 Loan production offices -- Application and procedure for approval.
- Section 716 Affiliate depository institutions acting as agents -- Notification required.
- Section 801 False statement derogatory to financial condition of depository institution a misdemeanor -- Exemptions.
- Section 802 Confidentiality of information received by department -- Availability of information.
- Section 803 Conflicting interests of commissioner, supervisors, and examiners -- Loans and accounts -- Disclosure -- Penalty.
- Section 806 Money market funds arranging with bank to honor two-party instruments -- Discouraging payment of interest to two persons on funds in transit -- Pyramiding and similar schemes as misdemeanors.
- Section 807 Printed checks, drafts and orders -- Requirements -- Violation as misdemeanor.
- Section 808 Closing days for depository institutions.
- Section 809 Articles of incorporation -- Amended or restated articles of incorporation -- Prerequisites to filing.
- Section 810 (Superseded 07/01/12) Limited liability companies.
- Section 810 (Effective 07/01/12) Limited liability companies.
- Section 901 Authorized insurance activities of depository institutions.
- Section 1001 Definitions -- Written consent or court order for disclosure by financial institution -- Exception.
- Section 1002 Notice to person about whom information sought.
- Section 1003 Intervention to challenge or stay order -- Burden on governmental entity.
- Section 1004 Reimbursement of financial institution for costs of obtaining information.
- Section 1005 Admissibility of information restricted.
- Section 1006 Inapplicable to certain official investigations.
- Section 1007 Liability of financial institutions.
Disclaimer: These codes may not be the most recent version. Utah may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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