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6,137 statutes · page 278 of 307
United States — Utah legislation
20 statutes shown from 6,137 source-backed records
This section defines banking and financial terms used in the title, including bank, branch, control, depository institution, holding company, NOW account, and related institutions.
Control. There is a rebuttable presumption that a person has control of a financial institution if the person has the power, directly or indirectly, or through or in concert with one or more persons, to vote more than 10% but less than 25%
Exemptions from application of title. This title does not apply to: investment companies registered under the Investment Company Act of 1940, 15 U.S.C. Sec. 80a-1 et seq.; securities brokers and dealers registered pursuant to: Title 61,
The commissioner and the department must comply with the procedures and requirements of Title 63G, Chapter 4, Administrative Procedures Act in their adjudicative proceedings, except where exempted.
If the commissioner brings an action in district court under this title, the action must be filed under Title 78B, Chapter 3a, or in the county where the commissioner’s office is located.
Creation of department -- Organization. There is created the Department of Financial Institutions that is responsible for the execution of the laws of this state relating to a financial institution or other person subject to this title,
Commissioner of financial institutions as executive officer -- Appointment -- Term -- Salary -- Qualifications. The chief executive officer of the Department of Financial Institutions shall be the commissioner of financial institutions who
This section creates the Board of Financial Institutions, sets member qualifications and appointment rules, and requires the board to meet regularly, disclose conflicts, and advise state officials.
The commissioner must designate a qualified examiner as chief examiner, and the chief examiner serves at the commissioner’s pleasure.
The commissioner must designate an examiner as supervisor of banks, and that supervisor must be qualified by training and experience.
The commissioner must designate a qualified examiner as supervisor of industrial banks.
The commissioner must designate a qualified examiner as supervisor of credit unions, and the supervisor must oversee and examine covered credit unions and help the commissioner carry out the laws.
The commissioner may designate an examiner as supervisor of holding companies, and that person must meet citizenship and qualifications requirements.
The commissioner may appoint a deputy commissioner who must be a U.S. citizen and Utah State Bar member, and the deputy commissioner must serve as the department’s staff attorney.
The commissioner must designate an examiner as supervisor of money services businesses, and that supervisor must assist the commissioner and carry out other assigned or prescribed duties.
The commissioner may appoint, assign, employ, and delegate staff and hearing duties, while examiners must not have a direct or indirect interest in institutions under the department’s supervision.
The commissioner must keep proper department records in books showing the department’s acts, matters, and things.
The commissioner must submit an annual report to the governor and the Legislature by October 1 each year.
The department must require background checks and ongoing monitoring for specified employees and applicants, and individuals must provide fingerprint cards and waivers when requested.
The department must ensure certain required training or certification for public officials or public employees complies with Title 63G, Chapter 22.
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