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2014 Utah Code
Title 7 - Financial Institutions Act
Chapter 9 - Utah Credit Union Act
Section 46 - Out-of-state credit unions -- Authorization to do business in state -- Supervision -- Examination.

Universal Citation:
UT Code ยง 7-9-46 (2014)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
7-9-46. Out-of-state credit unions -- Authorization to do business in state -- Supervision -- Examination.
(1) As used in this section "out-of-state credit union" means any credit union whose home state is not Utah.
(2) An out-of-state credit union may maintain a branch in this state only if:
(a) maintaining the Utah branch is permissible under applicable law, including Sections 7-1-702 and 7-1-708 in the case of a state chartered credit union;
(b) the branch has been authorized by:
(i) the department and the chartering authority of the credit union's home state in the case of a state chartered credit union; or
(ii) the National Credit Union Administration or successor agency in the case of a federally chartered credit union; and
(c) the branch will not serve a member of the out-of-state credit union who is a member of the credit union based solely on the member residing in a geographic area located in whole or in part in Utah.
(3) The commissioner may examine and supervise all out-of-state credit unions with a branch in the state, except federal credit unions, in the same manner as the commissioner examines and supervises credit unions in this state.


Amended by Chapter 327, 2003 General Session
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