Utah Code § 7-18a-101
Title. This chapter is known as the "Utah Foreign Depository Institutions Act."
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Utah Code § 7-18a-102
This section defines several terms used in the chapter: agency, branch, foreign person, and representative office.
- Branch authorization
- Business locations
- Foreign depository institutions
- Foreign persons
Utah Code § 7-18a-103
A foreign depository institution transacting business in Utah through an agency, branch, or representative office must comply with Title 16, Chapter 10a, the Utah Revised Business Corporation Act.
- Application of law
- Foreign depository institutions
Utah Code § 7-18a-104
A foreign depository institution authorized under Section 7-18a-201 to do business in Utah through an agency, branch, or representative office is subject to this title.
- Branch operations
- Depository institutions
Utah Code § 7-18a-201
A foreign depository institution generally may not do business in this state unless it does so through an authorized agency, branch, or representative office.
- Authorization to conduct business
- Branch/agency/representative office
- Foreign depository institution
- Foreign depository institutions
- Loan enforcement
Utah Code § 7-18a-202
A foreign depository institution must meet specified filing and documentation requirements to get or change authorization for an agency, branch, or representative office in the state.
- Agency branch representative office closure
- Authorization
- Branch relocation
- Business authorization
- Business premises
Utah Code § 7-18a-203
A foreign depository institution may not simultaneously operate an agency or branch under this chapter and an agency or branch authorized under federal law, and it may not simultaneously operate an agency and a branch in this state.
- Agencies
- Agency operations
- Branch operations
- Branches
- Federal authorization
Utah Code § 7-18a-204
Filing of amendments to articles of incorporation. If a foreign depository institution authorized by this state to transact business in this state through an agency, branch, or representative office amends its articles of incorporation,
- Articles of incorporation amendments
- Filing requirements
- Foreign depository institutions
Utah Code § 7-18a-205
A qualifying foreign depository institution must secure an amended certificate of authority if it changes its corporate name or duration, or wants to expand or contract its authorized purposes.
Utah Code § 7-18a-206
A covered foreign depository institution must file a notice with the commissioner within 14 days after a change of control.
- Banking compliance
- Change of control
- Filing notice
Year unavailable
Utah Code § 7-18a-207
Annual renewal of certificate of authority. A foreign depository institution may renew a certificate of authority, issued under Section 7-18a-202 , to transact business in this state through an agency, branch, or representative office in a
- Administrative filing
- Annual fee
- Application deadline
- Certificate of authority renewal
- Permit renewal
Year unavailable
Utah Code § 7-18a-301
Powers of an agency, branch, or representative office of a foreign depository institution. Subject to the limitations set forth in Subsections (2) and (3) , and notwithstanding any other law of this state, a foreign depository institution
- Agency
- Agency or branch operations
- Agency or branch regulation
- Banking
- Banking regulation
Year unavailable
Utah Code § 7-18a-302
A foreign depository institution may not engage in the trust business in this state.
- Foreign depository institutions
- Trust business
Utah Code § 7-18a-401
A foreign depository institution operating in this state through an agency or branch must keep its in-state business assets separate from its out-of-state business assets.
- Agency or branch operations
- Asset priority
- Depository institutions
Utah Code § 7-18a-402
A foreign depository institution operating in this state through an agency or branch must notify its customers that deposits and credit balances there are not insured by a federal deposit insurance agency.
- Deposit insurance disclosure
Utah Code § 7-18a-403
Foreign depository institutions operating in Utah through an agency or branch must hold specified assets in the state, and the required assets must be at least 108% of the listed liabilities.
- Asset holding
- Asset maintenance
- Asset-liability ratio
- Asset-liability requirements
- Banking
Utah Code § 7-18a-501
The commissioner may subject a covered foreign depository institution to supervisory actions if specified conditions are found.
- Administrative enforcement
- Depository institutions
- Supervisory actions
Utah Code § 7-18a-502
The commissioner must transfer remaining assets after claims are fully paid, and the court must direct redistribution if other offices are in liquidation and short of funds.
- Asset distribution
- Asset transfer
- Claims payment
- Insolvency
Year unavailable
Utah Code § 7-19-1
Definitions. As used in this chapter: "Failing or failed depository institution" means a depository institution under the jurisdiction of the department: regarding which the commissioner makes a finding that any of the conditions set forth
- Depository institutions
- Regulatory definitions
Year unavailable
Utah Code § 7-19-2
The commissioner, or a receiver or liquidator appointed by the commissioner, may solicit offers and may authorize, require, or give effect to a supervisory acquisition or supervisory merger for a failing or failed depository institution or holding company.
- Failing depository institution
- Failing depository institution holding company
- Supervisory acquisition
- Supervisory merger
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