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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-1-314, 1981

The commissioner or responsible supervisor must examine covered institutions, and the commissioner may accept certain outside examinations instead of a state examination.

Source excerpt

institutional examinationsregulatory compliance
Jurisdiction
United States — Utah
Status
In force
Official identity
Year 1981
Dates
Enacted 1981
More statute details
Dates
Enacted 1981
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01

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“The commissioner or responsible supervisor must examine covered institutions, and the commissioner may accept certain outside examinations instead of a state examination.”

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02

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    Enacted 1981. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Subsection 7-1-314(2)(g)

whether or not it is complying with its articles of incorporation and bylaws; and

Section 7-1-314(2)(g)

Subsection 7-1-314(4)

The nature and extent of examination of institutions or other business entities not classified as depository institutions but otherwise subject to the jurisdiction of the department as provided in this title shall be such as the

Section 7-1-314(4)

04

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In force source record

Source record from le.utah.gov · Enacted 1981

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Showing 13 of 13 provisions

Provision 13

Part 7-1-3

part 7-1-3 Powers and Duties of Commissioner of Financial Institutions

§ 7-1-314Examination of institutions by commissioner or supervisor.Provision

Source excerpt

The commissioner or responsible supervisor must examine covered institutions, and the commissioner may accept certain outside examinations instead of a state examination.

Examination of institutions by commissioner or supervisor. The commissioner or the responsible supervisor shall visit and examine or cause to be visited and examined every depository institution and such other institutions subject to the jurisdiction of the department as the commissioner considers necessary or advisable. At every examination of a depository institution careful inquiry shall be made as to: the condition and resources of the institution examined; the mode of conducting and managing of its affairs; the actions of its directors and officers; the investment and disposition of its funds; the security offered to depositors and other customers; whether or not it is violating any provision of law relating to the institution or the business of the institution examined; whether or not it is complying with its articles of incorporation and bylaws; and such other matters as the commissioner may prescribe. The commissioner may, in the commissioner's discretion, accept examinations of any institution which are made by federal examiners or examiners from other states having jurisdiction over that institution in lieu of any examination required under the laws of this state. The nature and extent of examination of institutions or other business entities not classified as depository institutions but otherwise subject to the jurisdiction of the department as provided in this title shall be such as the commissioner may determine to be necessary or appropriate in determining whether or not the business is being conducted in accordance with law and the regulations of the department.
Section 7-1-314Verify source
§ 7-1-314(1)Subsection 7-1-314(1)Provision

Source excerpt

The commissioner or responsible supervisor must visit and examine, or cause to be visited and examined, every depository institution and other institutions the commissioner considers necessary or advisable.

The commissioner or the responsible supervisor shall visit and examine or cause to be visited and examined every depository institution and such other institutions subject to the jurisdiction of the department as the commissioner considers necessary or advisable.
Section 7-1-314(1)Verify source
§ 7-1-314(2)Subsection 7-1-314(2)Provision

Source excerpt

At each examination of a depository institution, careful inquiry must be made into its condition, operations, directors and officers, funds, depositor and customer security, legal compliance, charter and bylaws, and any other matters the commissioner prescribes.

At every examination of a depository institution careful inquiry shall be made as to: the condition and resources of the institution examined; the mode of conducting and managing of its affairs; the actions of its directors and officers; the investment and disposition of its funds; the security offered to depositors and other customers; whether or not it is violating any provision of law relating to the institution or the business of the institution examined; whether or not it is complying with its articles of incorporation and bylaws; and such other matters as the commissioner may prescribe.
Section 7-1-314(2)Verify source
§ 7-1-314(2)(a)Subsection 7-1-314(2)(a)Provision

Source excerpt

the condition and resources of the institution examined;

the condition and resources of the institution examined;
Section 7-1-314(2)(a)Verify source
§ 7-1-314(2)(b)Subsection 7-1-314(2)(b)Provision

Source excerpt

the mode of conducting and managing of its affairs;

the mode of conducting and managing of its affairs;
Section 7-1-314(2)(b)Verify source
§ 7-1-314(2)(c)Subsection 7-1-314(2)(c)Provision

Source excerpt

the actions of its directors and officers;

the actions of its directors and officers;
Section 7-1-314(2)(c)Verify source
§ 7-1-314(2)(d)Subsection 7-1-314(2)(d)Provision

Source excerpt

the investment and disposition of its funds;

the investment and disposition of its funds;
Section 7-1-314(2)(d)Verify source
§ 7-1-314(2)(e)Subsection 7-1-314(2)(e)Provision

Source excerpt

the security offered to depositors and other customers;

the security offered to depositors and other customers;
Section 7-1-314(2)(e)Verify source
§ 7-1-314(2)(f)Subsection 7-1-314(2)(f)Provision

Source excerpt

whether or not it is violating any provision of law relating to the institution or the business of the institution examined;

whether or not it is violating any provision of law relating to the institution or the business of the institution examined;
Section 7-1-314(2)(f)Verify source
§ 7-1-314(2)(g)Subsection 7-1-314(2)(g)Provision

Source excerpt

whether or not it is complying with its articles of incorporation and bylaws; and

whether or not it is complying with its articles of incorporation and bylaws; and
Section 7-1-314(2)(g)Verify source
§ 7-1-314(2)(h)Subsection 7-1-314(2)(h)Provision

Source excerpt

such other matters as the commissioner may prescribe.

such other matters as the commissioner may prescribe.
Section 7-1-314(2)(h)Verify source
§ 7-1-314(3)Subsection 7-1-314(3)Provision

Source excerpt

The commissioner may choose to accept examinations of an institution by federal examiners or examiners from other states instead of a state-required examination.

The commissioner may, in the commissioner's discretion, accept examinations of any institution which are made by federal examiners or examiners from other states having jurisdiction over that institution in lieu of any examination required under the laws of this state.
Section 7-1-314(3)Verify source
§ 7-1-314(4)Subsection 7-1-314(4)Provision

Source excerpt

The nature and extent of examination of institutions or other business entities not classified as depository institutions but otherwise subject to the jurisdiction of the department as provided in this title shall be such as the

The nature and extent of examination of institutions or other business entities not classified as depository institutions but otherwise subject to the jurisdiction of the department as provided in this title shall be such as the commissioner may determine to be necessary or appropriate in determining whether or not the business is being conducted in accordance with law and the regulations of the department.
Section 7-1-314(4)Verify source

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